Tullow Oil (LON:TLW) Trading 18.5% Higher - Should You Buy?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price shot up 18.5% on Thursday . The company traded as high as GBX 14.47 ($0.19) and last traded at GBX 14.22 ($0.19). 66,848,008 shares traded hands during mid-day trading, an increase of 491% from the average session volume of 11,301,983 shares. The stock had previously closed at GBX 12 ($0.16).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lowered their price target on Tullow Oil from GBX 35 ($0.46) to GBX 25 ($0.33) and set a "speculative buy" rating on the stock in a research report on Thursday, February 20th. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research report on Tuesday, April 1st.

Tullow Oil Stock Performance

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's 50 day moving average is GBX 15.37 and its two-hundred day moving average is GBX 19.96. The firm has a market capitalization of £256.37 million, a P/E ratio of 16.38, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe purchased 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,415.61). 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.