Tullow Oil (LON:TLW) Stock Price Up 14.3% - Time to Buy?

Tullow Oil plc (LON:TLW - Get Free Report) shot up 14.3% during mid-day trading on Wednesday . The stock traded as high as GBX 15.91 ($0.21) and last traded at GBX 15.64 ($0.21). 11,230,354 shares traded hands during trading, an increase of 19% from the average session volume of 9,404,102 shares. The stock had previously closed at GBX 13.68 ($0.18).

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TLW shares. Canaccord Genuity Group decreased their price target on shares of Tullow Oil from GBX 35 ($0.47) to GBX 25 ($0.33) and set a "speculative buy" rating for the company in a research report on Thursday, February 20th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Tuesday, May 6th.

Tullow Oil Stock Down 0.7%

The company has a market cap of £268.21 million, a price-to-earnings ratio of 17.13, a PEG ratio of -0.19 and a beta of 2.08. 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 business has a 50-day simple moving average of GBX 14.11 and a two-hundred day simple moving average of GBX 18.18.

Insiders Place Their Bets

In other Tullow Oil news, insider Roald Goethe bought 100,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,606.38). Insiders bought a total of 400,000 shares of company stock valued at $5,900,000 in the last quarter. Insiders own 24.59% of the company's stock.

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.