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

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

Analysts Set New Price Targets

Several research firms have commented on TLW. Panmure Gordon cut their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday. Jefferies Financial Group cut their target price 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. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Canaccord Genuity Group decreased their price objective 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. One equities 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Up 23.1%

The business has a 50 day moving average price of GBX 9.50 and a 200 day moving average price of GBX 12.51. 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 company has a market capitalization of £70.32 million, a P/E ratio of -0.34, a PEG 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.