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

Key Points

• Tullow Oil's stock received a "buy" rating from Shore Capital, reaffirming investor confidence in the company.
• Canaccord Genuity raised its target price for Tullow Oil from GBX 14 to GBX 16, while maintaining a "hold" rating.
• Insider Roald Goethe purchased 100,000 shares of Tullow Oil at an average price of GBX 17, indicating continued insider confidence in the company.

Shore Capital reiterated their buy rating on shares of Tullow Oil (LON:TLW - Free Report) in a report issued on Wednesday morning, Marketbeat Ratings reports.

Separately, Canaccord Genuity Group lifted their price target on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a "hold" rating in a report on Thursday, May 29th.

Tullow Oil Stock Performance

Shares of Tullow Oil stock traded down GBX 0.12 ($0.00) during mid-day trading on Wednesday, hitting GBX 14.18 ($0.19). 5,377,986 shares of the stock were exchanged, compared to its average volume of 7,902,957. Tullow Oil has a 12 month low of GBX 11 ($0.15) and a 12 month high of GBX 30.34 ($0.40). The company has a 50-day simple moving average of GBX 16.19 and a 200 day simple moving average of GBX 15.85. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The company has a market capitalization of £262.29 million, a P/E ratio of 16.75, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In other news, insider Roald Goethe purchased 100,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,564.37). 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.