Tullow Oil (LON:TLW) Trading Up 23.8% – Time to Buy?

Shares of Tullow Oil plc (LON:TLW) were up 23.8% during mid-day trading on Thursday . The stock traded as high as GBX 10.76 and last traded at GBX 10.56. Approximately 56,103,320 shares were traded during trading, an increase of 386% from the average daily volume of 11,538,570 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Separately, Panmure Gordon decreased their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research note on Monday, November 24th. One 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’s stock. According to data from MarketBeat, Tullow Oil has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The business has a 50 day simple moving average of GBX 6.96 and a 200-day simple moving average of GBX 8.71. The company has a market capitalization of £154.88 million, a P/E ratio of -0.75, a PEG 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.

About Tullow Oil

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.