Tullow Oil (LON:TLW) Shares Up 14.1% – What’s Next?

Tullow Oil plc (LON:TLW) was up 14.1% during mid-day trading on Wednesday . The company 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).

Analyst Ratings Changes

TLW has been the topic of a number of research analyst reports. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, March 21st. Canaccord Genuity Group cut their price objective 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.

Tullow Oil Price Performance

The stock 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. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The firm’s 50 day simple moving average is GBX 17.05 and its 200 day simple moving average is GBX 20.82.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost 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 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.