Tullow Oil (LON:TLW) Shares Up 6.6% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) traded up 6.6% during trading on Monday . The company traded as high as GBX 6.28 and last traded at GBX 6.11. 6,465,417 shares were traded during trading, a decline of 39% from the average session volume of 10,522,629 shares. The stock had previously closed at GBX 5.73.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Panmure Gordon dropped their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report on Monday, November 24th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Up 6.6%

The stock has a 50 day moving average price of GBX 7.45 and a 200 day moving average price of GBX 11.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The company has a market capitalization of £90.12 million, a P/E ratio of -0.44, a PEG ratio of -0.19 and a beta of 2.08.

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.