Tullow Oil (LON:TLW) Trading Up 10.4% - What's Next?

Key Points

• Tullow Oil's stock price increased by 10.4% during mid-day trading, reaching as high as GBX 9.49 ($0.13), with trading volume up 36% from the average session.
• Analysts have varying outlooks on Tullow Oil, with Canaccord Genuity lowering its price target to GBX 10 and Jefferies Financial Group reducing theirs to GBX 6, while Shore Capital maintains a buy rating.
• Insider Roald Goethe purchased 2 million shares of Tullow Oil at an average price of GBX 12 per share, indicating confidence in the company's future performance.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on TLW shares. Canaccord Genuity Group decreased their price objective on 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 reduced their price objective 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's stock. According to MarketBeat.com, Tullow Oil has an average rating of "Hold" and an average target price of GBX 15.33.

Tullow Oil Stock Performance

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 company has a market cap of £134.20 million, a PE ratio of -0.65, a P/E/G ratio of -0.19 and a beta of 2.08. The stock's 50 day simple moving average is GBX 10.58 and its two-hundred day simple moving average is GBX 13.32.

Insider Buying and Selling at Tullow Oil

In other news, insider Roald Goethe bought 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 per share, with a total value 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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