Tullow Oil (LON:TLW) Trading Up 18.5% – Time to Buy?

Tullow Oil plc (LON:TLW)’s stock price was up 18.5% during trading on Thursday . The stock traded as high as GBX 14.47 ($0.18) and last traded at GBX 14.22 ($0.18). Approximately 66,848,008 shares were traded during mid-day trading, an increase of 491% from the average daily volume of 11,301,983 shares. The stock had previously closed at GBX 12 ($0.15).

Analyst Ratings Changes

Several brokerages have recently issued reports on TLW. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Tuesday, April 1st. Canaccord Genuity Group lowered their price objective on shares of 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 Price Performance

The company’s fifty day moving average is GBX 15.66 and its 200 day moving average is GBX 20.19. The firm has a market cap of £263.21 million, a price-to-earnings ratio of 16.81, a PEG ratio of -0.19 and a beta of 2.08. 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.

Insider Buying and Selling

In other news, insider Roald Goethe purchased 150,000 shares of the business’s stock in a transaction on Friday, April 4th. The stock was purchased at an average price of GBX 14 ($0.18) per share, for a total transaction of £21,000 ($26,833.63). 24.59% of the stock is currently owned by corporate 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.