Tullow Oil (LON:TLW) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Tullow Oil plc (LON:TLW) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 11.80 and traded as high as GBX 13.62. Tullow Oil shares last traded at GBX 13.42, with a volume of 5,303,869 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TLW. Shore Capital Group reiterated a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group upped their price target on shares of Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of GBX 13.85.

Tullow Oil Stock Up 0.9%

The stock has a market cap of £203.32 million, a PE ratio of 33.55, a price-to-earnings-growth ratio of -0.19 and a beta of 0.47. The business has a fifty day moving average of GBX 14.39 and a 200-day moving average of GBX 11.80. The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63.

Insiders Place Their Bets

In other news, insider Richard Miller bought 115,000 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of GBX 17 per share, for a total transaction of £19,550. Also, insider Garrett Soden bought 426,000 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average price of GBX 15 per share, with a total value of £63,900. Insiders own 3.00% of the company’s stock.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.