Tullow Oil (LON:TLW) Trading Up 14.1% on Insider Buying Activity

Tullow Oil plc (LON:TLW)’s share price rose 14.1% on Thursday after an insider bought additional shares in the company. The company traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). Approximately 175,336,875 shares traded hands during 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).

Specifically, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62).

Wall Street Analyst Weigh In

TLW has been the topic of a number of recent research reports. 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 report 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 Stock Performance

The company’s fifty day simple moving average is GBX 16.93 and its 200 day simple moving average is GBX 20.80. The stock has a market capitalization of £318.15 million, a P/E ratio of 20.32, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

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.