Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Tullow Oil's average basic shares outstanding for the quarter that ended in Dec. 2025 was 1,465 Mil.
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Be Aware
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Tullow Oil Shares Outstanding (Basic Average) Related Terms
Tullow Oil Shares Outstanding (Basic Average) Historical Data
* Premium members only.
The historical data trend for Tullow Oil's Shares Outstanding (Basic Average) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that exact time point. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.
What does a Shares Outstanding (Basic Average) of 1,465 Mil mean?
Tullow Oil (XGHA:TLW) has a Shares Outstanding (Basic Average) of 1,465 Mil as of Dec. 2025. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Tullow Oil and its competitors.
Is Tullow Oil's Shares Outstanding (Basic Average) too high?
Tullow Oil's current Shares Outstanding (Basic Average) is 1,465 Mil. Overall, Tullow Oil has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tullow Oil's Shares Outstanding (Basic Average) compare to COP and EOG?
Tullow Oil's Shares Outstanding (Basic Average) of 1,465 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (Basic Average) for an Oil & Gas company?
A good Shares Outstanding (Basic Average) depends on the Oil & Gas industry context. However, Shares Outstanding (Basic Average) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (Basic Average) mean?
A high Shares Outstanding (Basic Average) can signal that a stock is expensive relative to its fundamentals. The average shares outstanding over two periods not accounting for dilutive securities like convertible bonds. View historical data on Tullow Oil and its competitors. Tullow Oil's current Shares Outstanding (Basic Average) is 1,465 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tullow Oil stock overvalued right now?
Based on GuruFocus' analysis, Tullow Oil (XGHA:TLW) is currently considered Possible Value Trap. The stock's GF Value™ is GHS25.96, compared to a current price of GHS11.92 — trading 54.1% below its estimated fair value. The current Shares Outstanding (Basic Average) is 1,465 Mil. Tullow Oil's overall GF Score™ is 43/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (Basic Average) calculated?
Shares Outstanding (Basic Average) is calculated from a company's financial statements. For Tullow Oil (XGHA:TLW), the current Shares Outstanding (Basic Average) is 1,465 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tullow Oil (XGHA:TLW) Overvalued in 2026?
Based on GuruFocus' analysis, Tullow Oil stock appears to be undervalued.
The current stock price of GHS11.92 is trading 54.1% below its estimated GF Value™ of GHS25.96.
GuruFocus considers Tullow Oil to be Possible Value Trap.
Key valuation signals for XGHA:TLW:
Shares Outstanding (Basic Average): 1,465 Mil
GF Value™: GHS25.96 vs. price of GHS11.92 (54.1% below fair value)
No single metric tells the full story. See the XGHA:TLW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tullow Oil PLC is an independent oil and gas exploration and production company. The company conducts exploration, appraisal, and development activities in the African and Atlantic regions. The majority of revenue is derived from West African assets, with a focus on offshore fields. Assets used in oil and gas production are acquired through licenses. The company generates revenue from natural gas and crude oil sales. Its reportable segments are: Ghana, which generates key revenue, and the other segment.
43GF Score
Get the complete analysis for XGHA:TLW
Shares Outstanding (Basic Average) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XGHA:TLW has been successfully added to your 
