Tullow Oil's (TLW) "Buy" Rating Reiterated at Shore Capital

Key Points

• Tullow Oil's stock received a restated "Buy" rating from Shore Capital, despite mixed opinions from other analysts.
• The company's stock has seen a price target fluctuation, with Canaccord Genuity Group lowering their target from GBX 16 to GBX 10 and Jefferies restating their target at GBX 12.
• Insider Roald Goethe purchased 2,000,000 shares at an average price of GBX 12, indicating confidence in the company's future performance.

Tullow Oil (LON:TLW - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at Shore Capital in a research report issued on Friday, MarketBeat reports.

TLW has been the subject of several other reports. Canaccord Genuity Group lowered their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a report on Thursday, August 7th. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 12 target price on shares of Tullow Oil in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tullow Oil presently has an average rating of "Hold" and an average target price of GBX 17.33.

Tullow Oil Stock Up 6.6%

TLW traded up GBX 0.67 on Friday, hitting GBX 10.83. The company had a trading volume of 39,046,973 shares, compared to its average volume of 8,179,181. 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. Tullow Oil has a 52-week low of GBX 9.01 and a 52-week high of GBX 27.98. The stock has a fifty day simple moving average of GBX 13.30 and a 200-day simple moving average of GBX 14.38. The firm has a market capitalization of £158.32 million, a P/E ratio of -77.34, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Activity at Tullow Oil

In related news, insider Roald Goethe purchased 2,000,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were purchased at an average cost of GBX 12 per share, with a total value of £240,000. 1.33% of the stock is currently owned by corporate insiders.

Tullow Oil Company Profile

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.