Tullow Oil (LON:TLW) Hits New 12-Month Low After 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) hit a new 52-week low during mid-day 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 ($0.12) and last traded at GBX 9.23 ($0.12), with a volume of 18525377 shares changing hands. The stock had previously closed at GBX 9.99 ($0.13).

Several other equities research analysts have also commented on TLW. Canaccord Genuity Group cut their price target on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating on the stock in a research note on Thursday. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 12 ($0.16) price target on shares of Tullow Oil in a research report on Thursday.

Insider Buying and Selling

In related news, insider Roald Goethe bought 2,000,000 shares of Tullow Oil stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,667.38). 24.59% of the stock is currently owned by company insiders.

Tullow Oil Stock Performance

The stock has a market capitalization of £170.73 million, a PE ratio of 10.91, a PEG ratio of -0.19 and a beta of 2.08. The business has a 50 day moving average price of GBX 16.01 and a 200 day moving average price of GBX 15.45. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

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.

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