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

Shares of Tullow Oil plc (LON:TLW) were up 14.1% during mid-day 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 traded hands 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 Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group reduced 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. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, March 21st.

Tullow Oil Stock Performance

The company has a market capitalization of £318.15 million, a P/E ratio of 20.32, a P/E/G ratio of -0.19 and a beta of 2.08. 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 company’s fifty day moving average is GBX 17.30 and its 200 day moving average is GBX 20.89.

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.