Tullow Oil (LON:TLW) Shares Up 23.1% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price traded up 23.1% on Wednesday . The company traded as high as GBX 4.90 and last traded at GBX 4.80. 38,513,406 shares changed hands during trading, an increase of 266% from the average session volume of 10,528,255 shares. The stock had previously closed at GBX 3.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group cut their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Jefferies Financial Group decreased their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Finally, Panmure Gordon lowered 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 report on Monday. One equities research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

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 stock has a market capitalization of £70.32 million, a PE ratio of -0.34, a P/E/G ratio of -0.19 and a beta of 2.08. The firm has a fifty day moving average price of GBX 9.62 and a two-hundred day moving average price of GBX 12.56.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.