Tullow Oil (LON:TLW) Stock Price Up 6.6% – Should You Buy?

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Panmure Gordon cut 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. Jefferies Financial Group dropped their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price Performance

The firm has a market capitalization of £93.43 million, a price-to-earnings ratio of -0.45, a PEG ratio of -0.19 and a beta of 2.08. 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 price of GBX 7.39 and a two-hundred day moving average price of GBX 10.99.

Tullow Oil Company Profile

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.