Tullow Oil (LON:TLW) Trading 8.9% Higher – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) traded up 8.9% on Monday . The stock traded as high as GBX 12.10 and last traded at GBX 11.98. 18,382,098 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 19,169,301 shares. The stock had previously closed at GBX 11.

Analyst Ratings Changes

Separately, Canaccord Genuity Group increased their target price on shares of Tullow Oil from GBX 7 to GBX 13 and gave the stock a “hold” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of GBX 13.60.

Tullow Oil Stock Up 1.4%

The business’s 50 day moving average is GBX 11.92 and its 200 day moving average is GBX 9.15. The company has a quick ratio of 0.63, a current ratio of 0.55 and a debt-to-equity ratio of -750.59. The company has a market cap of £174.94 million, a P/E ratio of -0.85, a P/E/G ratio of -0.19 and a beta of 0.37.

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.