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

Key Points

• Tullow Oil's share price surged 10.4% to GBX 9.16 ($0.12), with trading volume increasing by 36% compared to its average daily volume.
• Analysts have mixed views on Tullow Oil, with a consensus rating of "Hold" and a target price of GBX 15.33 after recent adjustments from various firms.
• The company has a market cap of £134.20 million and aims to achieve Net Zero emissions by 2030 as part of its commitment to responsible operations in Africa.

Tullow Oil plc (LON:TLW - Get Free Report) was up 10.4% 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 traded hands during 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 topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group decreased their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating on the stock in a research note on Monday. Finally, Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Friday, September 5th. One 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 stock has an average rating of "Hold" and an average price target of GBX 15.33.

Tullow Oil Trading Up 10.4%

The stock has a market capitalization 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 current ratio of 0.70 and a quick ratio of 0.63. The business's 50 day simple moving average is GBX 10.58 and its 200-day simple moving average is GBX 13.32.

Insiders Place Their Bets

In other news, insider Roald Goethe bought 2,000,000 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were bought at an average cost of GBX 12 per share, for a total transaction of £240,000. Company insiders own 1.34% 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.

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