Tullow Oil (LON:TLW) Trading 23.1% Higher – What’s Next?

Tullow Oil plc (LON:TLW) shares were up 23.1% on Wednesday . The stock traded as high as GBX 4.90 and last traded at GBX 4.80. Approximately 38,513,406 shares changed hands during trading, an increase of 266% from the average daily volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analyst Ratings Changes

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

Tullow Oil Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The firm’s fifty day moving average price is GBX 9.50 and its 200-day moving average price is GBX 12.51. The stock has a market cap of £70.32 million, a P/E ratio of -0.34, a PEG ratio of -0.19 and a beta of 2.08.

Tullow Oil Company Profile

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.