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

Tullow Oil plc (LON:TLW) shares traded up 14.1% during trading on Wednesday . The company 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 ($0.20).

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, March 21st. 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 Trading Up 3.4 %

The stock has a market cap of £318.15 million, a PE ratio of 20.32, a PEG ratio of -0.19 and a beta of 2.08. 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. The stock’s fifty day moving average price is GBX 17.05 and its 200 day moving average price is GBX 20.82.

Insiders Place Their Bets

In related news, insider Roald Goethe purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62). Corporate insiders own 24.59% of the company’s stock.

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.