Tullow Oil (LON:TLW) Shares Down 10.2% - Time to Sell?

Key Points

• Tullow Oil shares saw a significant decline of 10.2%, trading at GBX 8.30, reflecting increased trading volume of approximately 30.6 million shares.
• Research analysts have issued mixed ratings for Tullow Oil, with Jefferies lowering their target price from GBX 12 to GBX 6, while Shore Capital maintains a "buy" rating.
• Insider purchasing activity was noted as Roald Goethe bought 2 million shares at an average price of GBX 12, indicating confidence from company insiders.

Tullow Oil plc (LON:TLW - Get Free Report) shares were down 10.2% during trading on Wednesday . The stock traded as low as GBX 8 ($0.11) and last traded at GBX 8.30 ($0.11). Approximately 30,649,705 shares were traded during trading, an increase of 280% from the average daily volume of 8,058,573 shares. The stock had previously closed at GBX 9.24 ($0.12).

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TLW shares. Jefferies Financial Group lowered their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating on the stock in a research note on Monday. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a research note on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of GBX 15.33.

Tullow Oil Stock Performance

The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The firm's 50-day moving average price is GBX 10.61 and its two-hundred day moving average price is GBX 13.35. The stock has a market cap of £131.71 million, a price-to-earnings ratio of -0.64, a PEG ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling

In other news, insider Roald Goethe bought 2,000,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was bought at an average cost of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is owned by company insiders.

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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