Tullow Oil (LON:TLW) Shares Up 23.1% – Here’s Why

Tullow Oil plc (LON:TLW) shares rose 23.1% on Thursday . The company traded as high as GBX 10.90 and last traded at GBX 10.50. Approximately 63,336,352 shares were traded during mid-day trading, an increase of 439% from the average daily volume of 11,745,229 shares. The stock had previously closed at GBX 8.53.

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Wall Street Analyst Weigh In

Separately, Panmure Gordon cut 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. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The stock has a market cap of £154.88 million, a PE ratio of -0.75, a P/E/G ratio of -0.19 and a beta of 2.08. The firm’s fifty day moving average price is GBX 6.96 and its 200 day moving average price is GBX 8.71. 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.