Tullow Oil (LON:TLW) Receives "Buy" Rating from Shore Capital

Shore Capital reaffirmed their buy rating on shares of Tullow Oil (LON:TLW - Free Report) in a research note published on Tuesday, Marketbeat Ratings reports.

Separately, Canaccord Genuity Group lowered their price objective 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.

Tullow Oil Price Performance

TLW stock traded down GBX 1.46 ($0.02) during mid-day trading on Tuesday, hitting GBX 14.72 ($0.19). 132,176,094 shares of the stock were exchanged, compared to its average volume of 12,256,145. 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 stock has a market capitalization of £272.20 million, a price-to-earnings ratio of 17.39, a PEG ratio of -0.19 and a beta of 2.08. The business has a fifty day moving average price of GBX 16.32 and a 200 day moving average price of GBX 20.53. Tullow Oil has a 12 month low of GBX 12.86 ($0.17) and a 12 month high of GBX 40.32 ($0.52).

Insider Buying and Selling

In other news, insider Roald Goethe purchased 150,000 shares of the company's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of GBX 14 ($0.18) per share, with a total value of £21,000 ($27,079.30). 24.59% of the stock is owned by corporate 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.