Tullow Oil (LON:TLW) Stock Price Up 10.4% - Still a Buy?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price rose 10.4% during mid-day trading on Thursday . The company traded as high as GBX 9.49 ($0.13) and last traded at GBX 9.16 ($0.12). Approximately 10,988,710 shares traded hands 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).

Analysts Set New Price Targets

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

Tullow Oil Price Performance

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. The firm has a market capitalization of £148.71 million, a P/E ratio of -0.73, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a 50-day moving average price of GBX 10.58 and a 200-day moving average price of GBX 13.32.

Insider Activity

In related news, insider Roald Goethe purchased 2,000,000 shares of Tullow Oil stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 per share, for a total transaction of £240,000. 1.34% of the stock is owned by corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.