Tullow Oil (LON:TLW) Stock Price Up 10.4% - Should You Buy?

Key Points

• Tullow Oil's stock surged by 10.4%, closing at GBX 9.16, significantly above its previous close of GBX 8.30.
• Analysts hold a mixed outlook on Tullow Oil with one Buy, one Hold, and one Sell rating, leading to a consensus price target of GBX 15.33.
• Insider Roald Goethe purchased 2 million shares at an average price of GBX 12, reflecting confidence in the company's future performance.

Tullow Oil plc (LON:TLW - Get Free Report)'s share price rose 10.4% during trading on Wednesday . The stock traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). Approximately 10,988,710 shares were traded during mid-day trading, an increase of 36% from the average daily volume of 8,073,210 shares. The stock had previously closed at GBX 8.30 ($0.11).

Wall Street Analyst Weigh In

TLW has been the subject of several recent analyst reports. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research report on Friday, September 5th. Jefferies Financial Group cut their price objective on Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating for the company in a report on Monday. Finally, Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating on the stock in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of GBX 15.33.

Tullow Oil Stock Up 10.4%

The firm's 50-day moving average is GBX 10.61 and its two-hundred day moving average is GBX 13.35. The stock has a market cap of £134.20 million, a P/E ratio of -0.65, a PEG ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

Insiders Place Their Bets

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

About Tullow Oil

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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