Tullow Oil (LON:TLW) Trading Up 16.9% - Still a Buy?

Key Points

• Tullow Oil shares jumped 16.9% to GBX 18.93 (intraday high GBX 19.38) on Tuesday with volume of ~79.15M shares, a 282% increase versus average daily volume.
• Despite the rally, analysts maintain a consensus rating of "Reduce" with a consensus target of GBX 13.85 and a recent split of two Holds and two Sells, below the current price.
• The company's fundamentals point to financial strain — quick ratio 0.63, current ratio 0.52, market cap £280.25M, P/E 47.5 and an unusual negative debt-to-equity of -892.65 — indicating elevated risk despite its Ghana-focused operations.

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price was up 16.9% on Tuesday . The stock traded as high as GBX 19.38 and last traded at GBX 18.93. Approximately 79,148,203 shares traded hands during mid-day trading, an increase of 282% from the average daily volume of 20,738,258 shares. The stock had previously closed at GBX 16.20.

Analysts Set New Price Targets

Several analysts recently weighed in on TLW shares. Shore Capital Group reissued a "hold" rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group lifted their price target on Tullow Oil from GBX 13 to GBX 14 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Tullow Oil currently has a consensus rating of "Reduce" and a consensus target price of GBX 13.85.

Tullow Oil Stock Performance

The stock has a 50 day moving average of GBX 12.38 and a 200 day moving average of GBX 9.23. The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65. The company has a market capitalization of £280.25 million, a price-to-earnings ratio of 47.50, a price-to-earnings-growth ratio of -0.19 and a beta of 0.37.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow's operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges symbol: TLW. For further information, please refer to: www.tullowoil.com.

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