Tullow Oil (LON:TLW) Trading 17.2% Higher – Still a Buy?

Tullow Oil plc (LON:TLW) shares traded up 17.2% on Thursday . The company traded as high as GBX 14.58 ($0.19) and last traded at GBX 14.06 ($0.18). 179,569,344 shares traded hands during mid-day trading, an increase of 1,293% from the average session volume of 12,889,608 shares. The stock had previously closed at GBX 12 ($0.16).

Wall Street Analysts Forecast Growth

TLW has been the subject of several research reports. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Tuesday, April 1st. Canaccord Genuity Group lowered 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 report on Thursday, February 20th.

Tullow Oil Stock Performance

The stock’s 50-day moving average is GBX 15.59 and its 200-day moving average is GBX 20.12. 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 stock has a market cap of £260.07 million, a price-to-earnings ratio of 16.61, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Transactions at Tullow Oil

In related news, insider Roald Goethe bought 150,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of GBX 14 ($0.18) per share, with a total value of £21,000 ($27,258.57). 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.