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

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Canaccord Genuity Group decreased their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Panmure Gordon lowered their price target 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 reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One investment 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. According to data from MarketBeat, Tullow Oil has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Up 5.4%

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The firm has a market capitalization of £92.30 million, a PE ratio of -0.45, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business has a 50-day moving average price of GBX 8.99 and a 200-day moving average price of GBX 12.19.

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.