Tullow Oil (LON:TLW) Shares Up 24.2% – Still a Buy?

Shares of Tullow Oil plc (LON:TLW) were up 24.2% during mid-day trading on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. Approximately 26,866,404 shares changed hands during trading, an increase of 151% from the average daily volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Wall Street Analyst Weigh In

TLW has been the subject of several analyst reports. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Canaccord Genuity Group lowered their price target on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Panmure Gordon dropped 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. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The firm has a market cap of £92.30 million, a PE ratio of -0.45, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The business’s fifty day moving average is GBX 9.08 and its 200-day moving average is GBX 12.23.

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.