Shares of Tullow Oil plc (LON:TLW - Get Free Report) shot up 10.4% during trading on Wednesday . The company traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). 10,988,710 shares traded hands during trading, an increase of 36% from the average session volume of 8,073,210 shares. The stock had previously closed at GBX 8.30 ($0.11).
Analyst Upgrades and Downgrades
A number of brokerages have commented on TLW. Jefferies Financial Group reduced their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating for the company in a report on Monday. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Canaccord Genuity Group reduced their target price 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. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of GBX 15.33.
Read Our Latest Research Report on TLW
Tullow Oil Trading Up 10.4%
The stock's 50 day moving average price is GBX 10.58 and its 200-day moving average price is GBX 13.32. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The stock has a market capitalization of £134.20 million, a PE ratio of -0.65, a PEG ratio of -0.19 and a beta of 2.08.
Insider Buying and Selling at Tullow Oil
In related news, insider Roald Goethe bought 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of GBX 12 per share, for a total transaction of £240,000. Corporate insiders own 1.34% of the company's stock.
About Tullow Oil
(
Get Free Report)
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.
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