Tullow Oil plc (LON:TLW - Get Free Report)'s share price shot 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 changed 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
A number of brokerages have recently commented on TLW. Canaccord Genuity Group cut their target price on shares of Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a "speculative buy" rating on the stock in a research note on Thursday, February 20th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research report on Friday, March 21st.
Read Our Latest Report on TLW
Tullow Oil Stock Up 3.4 %
The stock's fifty day simple moving average is GBX 16.93 and its two-hundred day simple moving average is GBX 20.78. 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 company has a market capitalization of £318.15 million, a price-to-earnings ratio of 20.32, a PEG ratio of -0.19 and a beta of 2.08.
Insider Buying and Selling
In related news, insider Roald Goethe bought 100,000 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were purchased at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($21,980.86). 24.59% of the stock is owned by company insiders.
About Tullow Oil
(
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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.
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