Tullow Oil (LON:TLW) Trading Up 23.8% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) shot up 23.8% on Thursday . The stock traded as high as GBX 10.76 and last traded at GBX 10.56. 56,103,320 shares were traded during mid-day trading, an increase of 386% from the average session volume of 11,538,570 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Separately, Panmure Gordon reduced their price target on 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 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Up 23.1%

The company’s 50 day moving average is GBX 6.96 and its 200 day moving average is GBX 8.71. The company has a market cap of £154.88 million, a PE ratio of -0.75, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

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.