Tullow Oil (LON:TLW) Trading Up 14.1% – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) rose 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). 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

Several research analysts recently weighed in on TLW shares. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, March 21st. 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.

Tullow Oil Stock Performance

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 stock has a market capitalization 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. The firm’s fifty day moving average price is GBX 17.30 and its 200 day moving average price is GBX 20.89.

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.