Tullow Oil (LON:TLW) Shares Up 7.1% – Here’s Why

Tullow Oil plc (LON:TLW)’s share price shot up 7.1% during mid-day trading on Monday . The stock traded as high as GBX 18.10 and last traded at GBX 17.75. 71,698,977 shares traded hands during trading, an increase of 230% from the average session volume of 21,714,350 shares. The stock had previously closed at GBX 16.58.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TLW. Canaccord Genuity Group boosted their price target on Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a report on Wednesday, April 29th. Shore Capital Group reiterated a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Price Performance

The company has a fifty day simple moving average of GBX 13.48 and a two-hundred day simple moving average of GBX 9.74. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The company has a market capitalization of £255.77 million, a price-to-earnings ratio of 43.35, a P/E/G ratio of -0.19 and a beta of 0.43.

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.