Tullow Oil (LON:TLW) Trading 14.1% Higher - Should You Buy?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price traded up 14.1% during trading on Wednesday . The stock 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 research analysts have recently weighed in on TLW shares. Shore Capital restated a "buy" rating on shares of Tullow Oil in a report on Friday, March 21st. Canaccord Genuity Group dropped their price objective on 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.

Tullow Oil Stock Up 3.4 %

The stock has a 50-day moving average of GBX 16.93 and a 200 day moving average of GBX 20.78. 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 company has a market capitalization of £318.15 million, a PE ratio of 20.32, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling

In related news, insider Roald Goethe purchased 100,000 shares of Tullow Oil stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($21,980.86). 24.59% of the stock is owned by insiders.

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.