Tullow Oil (LON:TLW) Shares Up 14.1% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s stock price rose 14.1% on Wednesday . The stock traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). Approximately 175,336,875 shares changed hands during mid-day trading, an increase of 1,210% from the average daily volume of 13,385,377 shares. The stock had previously closed at GBX 15.07 ($0.20).

Analyst Ratings Changes

A number of analysts have commented on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, March 21st. Canaccord Genuity Group reduced their price target on Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a research report on Thursday, February 20th.

Tullow Oil Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. 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. The business’s 50 day moving average is GBX 17.05 and its two-hundred day moving average is GBX 20.82.

Insider Buying and Selling

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62). 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.