|Bid||63.06 x 0|
|Ask||63.20 x 0|
|Day's range||62.50 - 64.64|
|52-week range||13.41 - 66.22|
|Beta (5Y monthly)||2.56|
|PE ratio (TTM)||N/A|
|Earnings date||08 Sept 2021|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||29 Aug 2019|
|1y target est||3.24|
The oil producer had previously hedged around 60% of its output one year into the future and 30% in the second year. Set up in the 1980s to produce oil and gas in Africa, Tullow has historically focused on exploring discoveries, but the oil price collapse last year forced the company and its rivals to slash exploration budgets. In May, Tullow emerged from a financial overhaul with a $1.8 billion bond sale and a new business plan under top boss Rahul Dhir.
Brent crude, the industry benchmark, jumped 1% on Monday, touching $73.52 (£52.14) per barrel. US crude also climbed 1% higher to $71.50, its highest level since October 2018.
Even with several positive news stories out recently, Jonathan Smith thinks the longer-term direction of the Tullow Oil share price is lower, not higher. The post The Tullow Oil share price is back above 60p. Here’s why I’m still not keen appeared first on The Motley Fool UK.