Tullow Oil (LON:TLW) Sets New 1-Year Low on Analyst Downgrade

Key Points

• Tullow Oil shares hit a new 52-week low of GBX 9.23 after Shore Capital downgraded their price target from GBX 45 to GBX 30, while maintaining a buy rating.
• Other analysts have also cut their price targets, with Canaccord Genuity lowering theirs from GBX 16 to GBX 10 and Jefferies reiterating an "underperform" rating with a target of GBX 12.
• Insider Roald Goethe purchased 2 million shares at GBX 12 each, reflecting insider confidence as company insiders hold 24.59% of the stock.

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price hit a new 52-week low during trading on Monday after Shore Capital lowered their price target on the stock from GBX 45 to GBX 30. Shore Capital currently has a buy rating on the stock. Tullow Oil traded as low as GBX 9.23 ($0.13) and last traded at GBX 9.23 ($0.13), with a volume of 18525377 shares traded. The stock had previously closed at GBX 9.99 ($0.14).

Several other research analysts also recently weighed in on TLW. Canaccord Genuity Group cut their price target on Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.14) and set a "hold" rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group restated an "underperform" rating and issued a GBX 12 ($0.16) price target on shares of Tullow Oil in a research note on Thursday, August 7th.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe acquired 2,000,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of GBX 12 ($0.16) per share, with a total value of £240,000 ($325,291.41). 24.59% of the stock is owned by insiders.

Tullow Oil Stock Down 3.3%

The firm has a market capitalization of £204.95 million, a PE ratio of 13.09, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business has a 50-day moving average price of GBX 15.50 and a 200-day moving average price of GBX 15.17. The company has a quick ratio of 0.63, a current ratio of 0.70 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.