Shore Capital Reiterates Buy Rating for Tullow Oil (LON:TLW)

Tullow Oil (LON:TLW)‘s stock had its “buy” rating reissued by investment analysts at Shore Capital in a research note issued to investors on Tuesday,Digital Look reports.

Separately, Canaccord Genuity Group cut their price target on shares of 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.

Tullow Oil Stock Up 1.4 %

Tullow Oil stock traded up GBX 0.22 ($0.00) during mid-day trading on Tuesday, reaching GBX 16.20 ($0.21). The stock had a trading volume of 5,008,594 shares, compared to its average volume of 10,562,104. Tullow Oil has a one year low of GBX 12.86 ($0.17) and a one year high of GBX 40.32 ($0.52). The company has a 50-day moving average price of GBX 16.79 and a two-hundred day moving average price of GBX 20.72. The company has a market capitalization of £299.65 million, a price-to-earnings ratio of 19.14, a PEG ratio of -0.19 and a beta of 2.08. 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.

Insider Buying and Selling

In related news, insider Roald Goethe bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($21,963.82). 24.59% of the stock is owned by corporate insiders.

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.