Tullow Oil (LON:TLW) Shares Up 4% – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) were up 4% during mid-day trading on Tuesday . The company traded as high as GBX 17.20 and last traded at GBX 16.49. Approximately 27,864,525 shares traded hands during trading, an increase of 58% from the average daily volume of 17,649,549 shares. The stock had previously closed at GBX 15.86.

Wall Street Analyst Weigh In

TLW has been the subject of a number of recent analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 24 price objective on shares of Tullow Oil in a research report on Wednesday, August 5th. Canaccord Genuity Group lifted their price target on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research note on Friday. Finally, Shore Capital Group reissued a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Tullow Oil has a consensus rating of “Reduce” and an average price target of GBX 12.60.

Tullow Oil Stock Up 4.0%

The business has a fifty day simple moving average of GBX 13.61 and a two-hundred day simple moving average of GBX 13. The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The company has a market cap of £249.87 million, a PE ratio of 41.23, a price-to-earnings-growth ratio of -0.19 and a beta of 0.51.

Insider Transactions at Tullow Oil

In other Tullow Oil news, insider Richard Miller purchased 115,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of GBX 17 per share, with a total value of £19,550. Also, insider Garrett Soden purchased 426,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were acquired at an average price of GBX 15 per share, for a total transaction of £63,900. 3.00% of the stock is owned by corporate insiders.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.