Tullow Oil (LON:TLW) Trading 20.3% Higher – Time to Buy?

Tullow Oil plc (LON:TLW) shares shot up 20.3% on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.69. 28,973,893 shares changed hands during trading, an increase of 176% from the average session volume of 10,486,779 shares. The stock had previously closed at GBX 3.90.

Analyst Upgrades and Downgrades

TLW has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Jefferies Financial Group decreased their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Finally, Panmure Gordon dropped their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 17.4%

The stock’s 50-day moving average price is GBX 9.62 and its two-hundred day moving average price is GBX 12.56. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a market capitalization of £67.08 million, a P/E ratio of -0.33, a P/E/G ratio of -0.19 and a beta of 2.08.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.