Tullow Oil (LON:TLW) Shares Up 11% – Time to Buy?

Tullow Oil plc (LON:TLW)’s stock price was up 11% during trading on Wednesday. The stock traded as high as GBX 9.78 and last traded at GBX 9.50. Approximately 18,485,117 shares changed hands during trading, a decline of 7% from the average session volume of 19,830,119 shares. The stock had previously closed at GBX 8.56.

Analyst Ratings Changes

A number of analysts have weighed in on TLW shares. Peel Hunt reissued a “buy” rating and issued a GBX 24 price target on shares of Tullow Oil in a report on Wednesday, August 5th. Canaccord Genuity Group upped their price objective on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 10 price objective on shares of Tullow Oil in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tullow Oil presently has a consensus rating of “Hold” and a consensus price target of GBX 13.60.

Tullow Oil Price Performance

The company has a market cap of £143.93 million, a P/E ratio of -4.32, a P/E/G ratio of -0.19 and a beta of 0.55. The stock has a 50-day simple moving average of GBX 15.07 and a 200 day simple moving average of GBX 13.77. The company has a debt-to-equity ratio of -543.66, a quick ratio of 0.63 and a current ratio of 0.97.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW). For further information, please refer to: www.tullowoil.com.