Tullow Oil (LON:TLW) Shares Up 9.5% – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) shot up 9.5% on Thursday . The stock traded as high as GBX 9.40 and last traded at GBX 9.34. 18,078,234 shares changed hands during trading, an increase of 73% from the average session volume of 10,452,140 shares. The stock had previously closed at GBX 8.53.

Wall Street Analyst Weigh In

Separately, Panmure Gordon reduced 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 research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The company has a fifty day moving average price of GBX 6.96 and a two-hundred day moving average price of GBX 8.71. 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 company has a market capitalization of £145.73 million, a P/E ratio of -0.71, a PEG ratio of -0.19 and a beta of 2.08.

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.