Tullow Oil (LON:TLW) Stock Price Up 14.1% – Here’s Why

Tullow Oil plc (LON:TLW) traded up 14.1% during trading on Wednesday . The stock traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). 175,336,875 shares changed hands during mid-day trading, an increase of 1,210% from the average session volume of 13,385,377 shares. The stock had previously closed at GBX 15.07 ($0.20).

Wall Street Analysts Forecast Growth

TLW has been the subject of several analyst reports. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, March 21st. Canaccord Genuity Group reduced their price target on Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a research report on Thursday, February 20th.

Tullow Oil Stock Performance

The stock’s 50 day moving average is GBX 17.05 and its 200 day moving average is GBX 20.82. 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 £318.15 million, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62). Corporate insiders own 24.59% of the company’s stock.

About Tullow Oil

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.