Tullow Oil (LON:TLW) Shares Up 23.1% – Should You Buy?

Tullow Oil plc (LON:TLW) shot up 23.1% during trading on Thursday . The stock traded as high as GBX 10.90 and last traded at GBX 10.50. 63,336,352 shares changed hands during trading, an increase of 439% from the average session volume of 11,745,229 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

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 for the company in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Up 23.1%

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