Tullow Oil (LON:TLW) Trading Up 18.5% – Time to Buy?

Tullow Oil plc (LON:TLW)’s stock price was up 18.5% during trading on Thursday . The company traded as high as GBX 14.47 ($0.18) and last traded at GBX 14.22 ($0.18). Approximately 66,848,008 shares changed hands during trading, an increase of 491% from the average daily volume of 11,301,983 shares. The stock had previously closed at GBX 12 ($0.15).

Analysts Set New Price Targets

A number of equities analysts recently commented on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Tuesday, April 1st. Canaccord Genuity Group decreased their price target 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 report on Thursday, February 20th.

Tullow Oil Trading Up 18.6 %

The firm has a market capitalization of £263.21 million, a price-to-earnings ratio of 16.81, a P/E/G 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 firm’s 50-day moving average is GBX 15.66 and its 200 day moving average is GBX 20.19.

Insider Transactions at Tullow Oil

In other news, insider Roald Goethe purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($21,722.46). Corporate 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.