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

Tullow Oil plc (LON:TLW)’s stock price shot 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 were traded 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.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TLW shares. Jefferies Financial Group reduced their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Panmure Gordon decreased their price objective on shares of 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. 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. According to MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price Performance

The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The firm has a market cap of £89.24 million, a price-to-earnings ratio of -0.43, a P/E/G ratio of -0.19 and a beta of 2.08. The business’s 50-day moving average price is GBX 7.35 and its two-hundred day moving average price is GBX 10.90.

Tullow Oil Company Profile

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.