Tullow Oil (LON:TLW) Shares Up 10.4% - What's Next?

Tullow Oil plc (LON:TLW - Get Free Report) shares shot up 10.4% during mid-day 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 mid-day 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).

Analysts Set New Price Targets

A number of research firms have issued reports on TLW. Canaccord Genuity Group decreased their price objective on 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 cut their target price on Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating on the stock in a research note on Monday. Finally, Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tullow Oil currently has an average rating of "Hold" and a consensus target price of GBX 15.33.

Tullow Oil Price Performance

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 market capitalization of £148.71 million, a PE ratio of -0.73, a PEG ratio of -0.19 and a beta of 2.08. The firm has a 50-day moving average of GBX 10.58 and a 200 day moving average of GBX 13.32.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is owned by company 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.

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