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

Tullow Oil plc (LON:TLW)’s share price shot up 14.1% during trading on Thursday following insider buying activity. The company traded as high as GBX 17.52 ($0.23) and last traded at GBX 17.20 ($0.22). 175,336,875 shares were traded during 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 ($0.20).

Specifically, insider Roald Goethe bought 100,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of GBX 17 ($0.22) per share, with a total value of £17,000 ($22,003.62).

Analyst Ratings Changes

A number of research firms have commented on TLW. 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 for the company in a research note 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 Trading Up 3.4 %

The stock has a fifty day moving average of GBX 16.93 and a two-hundred day moving average of GBX 20.80. The company has a market capitalization of £318.15 million, a PE ratio of 20.32, a PEG 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.