Tullow Oil (LON:TLW) Stock Price Up 24.2% – What’s Next?

by · The Markets Daily

Tullow Oil plc (LON:TLW – Get Free Report)’s share price was up 24.2% on Monday . The company traded as high as GBX 6.10 and last traded at GBX 6. Approximately 26,866,404 shares changed hands during mid-day trading, an increase of 151% from the average daily volume of 10,695,014 shares. The stock had previously closed at GBX 4.83.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group reduced their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Finally, Panmure Gordon decreased their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Check Out Our Latest Stock Analysis on Tullow Oil

Tullow Oil Stock Up 5.4%

The company has a market cap of £92.30 million, a PE ratio of -0.45, a P/E/G ratio of -0.19 and a beta of 2.08. The firm has a 50-day simple moving average of GBX 8.99 and a two-hundred day simple moving average of GBX 12.19. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

About Tullow Oil

(Get Free Report)

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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