Tullow Oil (LON:TLW) Trading Up 23.1% – Should You Buy?

Tullow Oil plc (LON:TLW) was 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 were traded during mid-day trading, an increase of 266% from the average daily volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analysts Set New Price Targets

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

Tullow Oil Stock Performance

The company’s 50 day simple moving average is GBX 9.50 and its 200 day simple moving average is GBX 12.51. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of £70.32 million, a PE ratio of -0.34, a price-to-earnings-growth 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.