Tullow Oil (LON:TLW) Receives Buy Rating from Shore Capital

Tullow Oil (LON:TLW - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Shore Capital in a note issued to investors on Wednesday, Marketbeat reports.

Separately, Canaccord Genuity Group raised their price target on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a "hold" rating in a report on Thursday, May 29th.

Tullow Oil Trading Up 5.1%

Tullow Oil stock traded up GBX 0.82 ($0.01) during trading hours on Wednesday, reaching GBX 16.80 ($0.23). The stock had a trading volume of 4,119,490 shares, compared to its average volume of 8,700,332. The stock has a market cap of £310.75 million, a PE ratio of 19.85, a PEG ratio of -0.19 and a beta of 2.08. Tullow Oil has a 52 week low of GBX 11 ($0.15) and a 52 week high of GBX 37.18 ($0.50). 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 fifty day simple moving average of GBX 13.94 and a 200-day simple moving average of GBX 17.43.

Insiders Place Their Bets

In other Tullow Oil news, insider Roald Goethe purchased 150,000 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,409.09). Insiders have bought a total of 400,000 shares of company stock valued at $5,900,000 in the last quarter. Insiders own 24.59% of the company's stock.

About Tullow Oil

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.