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

Tullow Oil plc (LON:TLW)’s stock price was up 18.5% during mid-day trading on Thursday . The stock 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 mid-day 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).

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TLW shares. Canaccord Genuity Group decreased their price target on Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a research note on Thursday, February 20th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Tuesday, April 1st.

Tullow Oil Stock Performance

The company has a market cap of £263.21 million, a P/E ratio of 16.81, a PEG ratio of -0.19 and a beta of 2.08. The company has a 50 day moving average price of GBX 15.66 and a 200-day moving average price of GBX 20.19. 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.

Insider Activity

In related news, insider Roald Goethe bought 100,000 shares of Tullow Oil stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($21,722.46). 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.