Tullow Oil (LON:TLW) Trading Up 14.1% – Still a Buy?

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced 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 reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, March 21st.

Tullow Oil Stock Up 3.4 %

The firm has a market capitalization of £318.15 million, a PE ratio of 20.32, a PEG ratio of -0.19 and a beta of 2.08. 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 business’s 50 day simple moving average is GBX 17.05 and its 200 day simple moving average is GBX 20.82.

Insider Transactions at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62). Company insiders own 24.59% of the company’s stock.

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.