Tullow Oil (LON:TLW) Trading Up 14.3% – What’s Next?

Tullow Oil plc (LON:TLW)’s stock price was up 14.3% during trading on Wednesday . The stock traded as high as GBX 15.91 ($0.21) and last traded at GBX 15.64 ($0.21). Approximately 11,230,354 shares changed hands during trading, an increase of 19% from the average daily volume of 9,404,102 shares. The stock had previously closed at GBX 13.68 ($0.18).

Analysts Set New Price Targets

Several equities research analysts have recently commented on TLW shares. Canaccord Genuity Group lowered their price objective on shares of Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a “speculative buy” rating for the company in a research note on Thursday, February 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Tuesday, May 6th.

Tullow Oil Stock Down 6.0%

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. The company’s 50 day moving average price is GBX 14.02 and its 200 day moving average price is GBX 18.37. The firm has a market capitalization of £271.91 million, a price-to-earnings ratio of 17.37, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling

In other Tullow Oil news, insider Roald Goethe bought 150,000 shares of Tullow Oil stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of GBX 14 ($0.19) per share, with a total value of £21,000 ($27,947.83). Insiders acquired a total of 400,000 shares of company stock valued at $5,900,000 over the last 90 days. Insiders own 24.59% of the company’s stock.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.