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

Shares of Tullow Oil plc (LON:TLW - Get Free Report) 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 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).

Analyst Ratings Changes

TLW has been the subject of a number of recent research reports. Canaccord Genuity Group reduced 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 research note 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 Trading Up 3.4 %

The firm's 50 day moving average is GBX 16.93 and its 200 day 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 cap of £318.15 million, a PE ratio of 20.32, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity

In other Tullow Oil news, insider Roald Goethe purchased 100,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($22,003.62). Company insiders own 24.59% of the company's stock.

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.