Tullow Oil (LON:TLW) Trading 14.1% Higher – What’s Next?

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

Analysts Set New Price Targets

TLW has been the subject of a number of research analyst reports. Canaccord Genuity Group lowered 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 report on Thursday, February 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, March 21st.

Tullow Oil Trading Up 14.1 %

The business’s 50-day moving average price is GBX 17.30 and its 200-day moving average price is GBX 20.89. The firm has a market capitalization of £318.15 million, a PE ratio of 20.32, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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

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.