Tullow Oil (LON:TLW) Stock Price Up 24.2% – Here’s Why

Tullow Oil plc (LON:TLW) rose 24.2% on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. Approximately 26,866,404 shares were traded during mid-day trading, an increase of 151% from the average daily volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Analyst Ratings Changes

Several research analysts have commented on TLW shares. 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 report on Monday, October 20th. Panmure Gordon lowered their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research report on Monday, November 24th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Canaccord Genuity Group reduced their target price 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Tullow Oil presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 5.4%

The firm’s 50-day moving average price is GBX 8.99 and its 200 day moving average price is GBX 12.19. The company has a market cap of £92.30 million, a price-to-earnings ratio of -0.45, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

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.