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

Tullow Oil plc (LON:TLW)’s share price shot up 14.1% during trading on Thursday . The stock traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). 175,336,875 shares traded 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 ($0.19).

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of 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 report on Friday, March 21st.

Tullow Oil Price Performance

The company’s 50 day simple moving average is GBX 17.17 and its 200-day simple moving average is GBX 20.85. 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 has a market capitalization of £324.07 million, a price-to-earnings ratio of 20.70, a PEG ratio of -0.19 and a beta of 2.08.

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.