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

Tullow Oil plc (LON:TLW)’s share price traded 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). 175,336,875 shares were traded during mid-day trading, an increase of 1,210% from the average session volume of 13,385,377 shares. The stock had previously closed at GBX 15.07 ($0.20).

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TLW shares. 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 on the stock in a research report on Thursday, February 20th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, March 21st.

Tullow Oil Stock Performance

The firm has a market capitalization of £318.15 million, a price-to-earnings ratio of 20.32, a PEG 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. The firm’s fifty day moving average is GBX 17.05 and its 200 day moving average is GBX 20.82.

Insider Activity

In other news, insider Roald Goethe purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62). 24.59% of the stock is currently owned by corporate insiders.

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.