Tullow Oil (LON:TLW) Stock Price Up 10.2% - What's Next?

Key Points

• Tullow Oil shares increased by 10.2% on Friday, trading at GBX 11.20 ($0.15) after closing at GBX 10.16 ($0.14), with over 8 million shares changing hands.
• Analysts have mixed ratings on Tullow Oil, with one Buy, one Hold, and one Sell rating; the average target price for the stock is set at GBX 17.33.
• Insider Roald Goethe purchased 2,000,000 shares at GBX 12 each, indicating confidence in the company's prospects.

Shares of Tullow Oil plc (LON:TLW - Get Free Report) shot up 10.2% on Friday . The stock traded as high as GBX 11.34 ($0.15) and last traded at GBX 11.20 ($0.15). 8,406,286 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 8,001,038 shares. The stock had previously closed at GBX 10.16 ($0.14).

Analysts Set New Price Targets

Several research firms have weighed in on TLW. Canaccord Genuity Group cut their price objective on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating on the stock in a research report on Thursday, August 7th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research report on Friday. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a GBX 12 price objective on shares of Tullow Oil in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of GBX 17.33.

Tullow Oil Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The business has a 50-day moving average price of GBX 13.30 and a 200 day moving average price of GBX 14.38. The stock has a market cap of £158.32 million, a PE ratio of -77.34, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity

In related news, insider Roald Goethe acquired 2,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of GBX 12 per share, for a total transaction of £240,000. Insiders own 1.33% 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.