Tullow Oil (LON:TLW) Trading 23.1% Higher – Should You Buy?

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

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Wall Street Analysts Forecast Growth

Separately, Panmure Gordon reduced their price objective 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 research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Up 23.1%

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 stock’s fifty day simple moving average is GBX 6.96 and its two-hundred day simple moving average is GBX 8.71. The stock has a market capitalization of £154.88 million, a P/E ratio of -0.75, a price-to-earnings-growth 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.