Tullow Oil (LON:TLW) Stock Price Up 14.1% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) rose 14.1% during mid-day trading on Wednesday . The company traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). Approximately 175,336,875 shares changed hands during mid-day 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 ($0.19).

Analysts Set New Price Targets

A number of analysts have commented on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, March 21st. Canaccord Genuity Group decreased their price objective 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 note on Thursday, February 20th.

Tullow Oil Stock Up 14.1 %

The firm has a market cap of £318.15 million, a P/E ratio of 20.32, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s 50 day moving average is GBX 17.17 and its two-hundred day moving average is GBX 20.85. 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.

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.