Tullow Oil (LON:TLW) Trading 14.1% Higher After Insider Buying Activity

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price shot up 14.1% on Thursday following insider buying activity. 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 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).

Specifically, insider Roald Goethe acquired 100,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were purchased at an average cost of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($21,963.82).

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group decreased their price target on Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a "speculative buy" rating on the stock in a report on Thursday, February 20th. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research report on Friday, March 21st.

Tullow Oil Stock Down 5.9 %

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 cap of £295.58 million, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm has a 50 day simple moving average of GBX 16.79 and a two-hundred day simple moving average of GBX 20.72.

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.