Tullow Oil (LON:TLW) Trading Up 6.6% – Here’s Why

Tullow Oil plc (LON:TLW) traded up 6.6% during mid-day trading on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. 6,465,417 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group dropped their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Finally, Panmure Gordon cut their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report on Monday, November 24th. 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. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

The stock has a market cap of £90.12 million, a PE ratio of -0.44, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The stock has a fifty day moving average of GBX 7.39 and a 200-day moving average of GBX 10.99. 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.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.