Tullow Oil (LON:TLW) Trading 6.9% Higher - Still a Buy?

Key Points

• Tullow Oil's shares surged 6.9% to GBX 10.86 ($0.15), although the trading volume fell by 51% compared to its average.
• Analysts offer mixed opinions on Tullow Oil, with a consensus rating of "Hold" and an average target price of GBX 17.33, while one firm has issued a buy rating.
• Insider Roald Goethe acquired 2,000,000 shares at GBX 12 each, indicating a significant investment in the company amidst ongoing trading activity.

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price rose 6.9% on Friday . The company traded as high as GBX 10.94 ($0.15) and last traded at GBX 10.86 ($0.15). Approximately 3,890,915 shares traded hands during trading, a decline of 51% from the average daily volume of 7,974,786 shares. The stock had previously closed at GBX 10.16 ($0.14).

Wall Street Analysts Forecast Growth

TLW has been the subject of a number of recent research reports. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research report on Friday. Jefferies Financial Group reissued an "underperform" rating and issued a GBX 12 price objective on shares of Tullow Oil in a report on Thursday, August 7th. Finally, Canaccord Genuity Group cut their price objective on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 17.33.

Tullow Oil Trading Up 6.6%

The business has a 50 day moving average of GBX 13.30 and a two-hundred day moving average of GBX 14.38. 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 firm has a market cap of £158.32 million, a P/E ratio of -77.34, a PEG ratio of -0.19 and a beta of 2.08.

Insiders Place Their Bets

In related news, insider Roald Goethe purchased 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 price of GBX 12 per share, for a total transaction of £240,000. 1.33% of the stock is owned by 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.