Tullow Oil (LON:TLW) Trading Up 14.1% – Time to Buy?

Tullow Oil plc (LON:TLW) traded up 14.1% on Wednesday . The company traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). 175,336,875 shares changed hands 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).

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reduced their target price 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. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, March 21st.

Tullow Oil Trading Up 3.4 %

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 firm has a market cap of £318.15 million, a P/E ratio of 20.32, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s 50-day simple moving average is GBX 17.05 and its 200 day simple moving average is GBX 20.82.

Insider Buying and Selling

In other news, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was 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 currently owned by 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.