Tullow Oil (LON:TLW) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Tullow Oil plc (LON:TLW)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 17.20 ($0.23) and traded as high as GBX 20.70 ($0.28). Tullow Oil shares last traded at GBX 20.40 ($0.28), with a volume of 14,269,822 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group upped their target price on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a “hold” rating in a research note on Thursday, May 29th.

Tullow Oil Trading Up 1.2%

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The business has a 50 day moving average of GBX 14.43 and a 200-day moving average of GBX 17.20. The stock has a market cap of £381.96 million, a PE ratio of 24.40, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

Insiders Place Their Bets

In other Tullow Oil news, insider Roald Goethe purchased 100,000 shares of Tullow Oil stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of GBX 17 ($0.23) per share, with a total value of £17,000 ($23,069.62). Insiders have acquired a total of 400,000 shares of company stock valued at $5,900,000 in the last quarter. 24.59% of the stock is currently owned by company insiders.

About Tullow Oil

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.