Tullow Oil (LON:TLW) Stock Price Up 15.9% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s share price rose 15.9% during trading on Monday . The stock traded as high as GBX 5.63 and last traded at GBX 5.60. Approximately 13,020,812 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 10,635,590 shares. The stock had previously closed at GBX 4.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TLW shares. Panmure Gordon lowered their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. Jefferies Financial Group reduced their target price on shares of 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 reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, 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. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Up 24.2%

The company has a market capitalization of £87.90 million, a P/E ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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 firm’s fifty day moving average is GBX 9.27 and its 200-day moving average is GBX 12.35.

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.