Tullow Oil (LON:TLW) Shares Up 14.3% - Here's Why

Key Points

• Tullow Oil shares jumped 14.3% to GBX 8 on Wednesday, with about 41.65 million shares traded—roughly a 388% increase versus average daily volume.
• Analysts have become more bearish: the consensus rating is Reduce with a consensus price target of GBX 12.85, and recent downgrades from Panmure Gordon and Jefferies left the mix at 1 Buy, 1 Hold and 2 Sell.
• The company shows signs of financial strain—market cap ~£118m, a negative P/E, weak liquidity (current ratio 0.70) and an extreme negative debt-to-equity ratio—while its operations are focused in Ghana and it targets Net Zero by 2030 for Scope 1 and 2 emissions.

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price rose 14.3% during trading on Wednesday . The company traded as high as GBX 8.14 and last traded at GBX 8. Approximately 41,646,805 shares changed hands during mid-day trading, an increase of 388% from the average daily volume of 8,538,957 shares. The stock had previously closed at GBX 7.

Analyst Ratings Changes

TLW has been the subject of several recent analyst reports. Panmure Gordon decreased their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a "sell" rating for the company in a report on Monday, November 24th. Jefferies Financial Group dropped their price objective on Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating on the stock in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of GBX 12.85.

Tullow Oil Stock Up 14.3%

The stock has a market capitalization of £118.00 million, a P/E ratio of -0.57, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm has a 50 day moving average of GBX 6.29 and a 200-day moving average of GBX 9.46. 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 Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow's operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges symbol: TLW. For further information, please refer to: www.tullowoil.com.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.