Tullow Oil (LON:TLW) Trading 6.6% Higher – Here’s What Happened

Tullow Oil plc (LON:TLW)’s stock price traded up 6.6% during mid-day trading on Monday . The stock traded as high as GBX 6.28 and last traded at GBX 6.11. 6,000,150 shares changed hands during trading, a decline of 43% from the average session volume of 10,520,775 shares. The stock had previously closed at GBX 5.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Panmure Gordon lowered their price objective on shares of 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 reduced their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Tullow Oil has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Up 6.6%

The firm has a market capitalization of £90.12 million, a PE ratio of -0.44, a P/E/G ratio of -0.19 and a beta of 2.08. 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 business’s fifty day moving average price is GBX 7.45 and its 200 day moving average price is GBX 11.08.

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.