Tullow Oil (LON:TLW) Shares Up 11.7% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s stock price was up 11.7% during trading on Thursday . The stock traded as high as GBX 9.85 and last traded at GBX 9.53. Approximately 26,164,666 shares changed hands during mid-day trading, an increase of 145% from the average daily volume of 10,683,180 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

Separately, Panmure Gordon lowered their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Trading Up 15.8%

The firm has a market capitalization of £145.73 million, a price-to-earnings ratio of -0.71, 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 firm’s 50-day simple moving average is GBX 6.96 and its 200 day simple moving average is GBX 8.71.

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.