Tullow Oil (LON:TLW) Stock Price Up 14.1% – Here’s Why

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).

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TLW shares. 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. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, March 21st.

Tullow Oil Trading Up 3.4 %

The firm’s 50 day simple moving average is GBX 17.05 and its 200-day simple moving average is GBX 20.82. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The company has a market capitalization of £318.15 million, a PE ratio of 20.32, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling

In related news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($22,003.62). 24.59% of the stock is owned by corporate insiders.

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.