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Tullow Oil (LON:TLW) Shares Down 16.2% - Should You Sell?

Tullow Oil logo with Energy background

Key Points

  • Tullow Oil's shares dropped 16.2% during mid-day trading, falling to GBX 12 ($0.16) from a previous close of GBX 14.32 ($0.19), with trading volume significantly increasing by 317%.
  • Analyst ratings are mixed, with Shore Capital maintaining a "buy" rating, while Canaccord Genuity raised their price target but rated the stock as a "hold."
  • Insider Roald Goethe purchased 100,000 shares at £17, indicating confidence in the company's future, with insiders owning 24.59% of the stock.
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Shares of Tullow Oil plc (LON:TLW - Get Free Report) dropped 16.2% during mid-day trading on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 12 ($0.16). Approximately 33,330,895 shares traded hands during trading, an increase of 317% from the average daily volume of 7,991,608 shares. The stock had previously closed at GBX 14.32 ($0.19).

Wall Street Analyst Weigh In

TLW has been the subject of a number of research analyst reports. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Wednesday, July 30th. Canaccord Genuity Group raised their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a "hold" rating in a research note on Thursday, May 29th.

Get Our Latest Stock Report on Tullow Oil

Tullow Oil Price Performance

The firm has a fifty day simple moving average of GBX 16.21 and a 200 day simple moving average of GBX 15.73. The company has a market capitalization of £221.45 million, a PE ratio of 14.15, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

Insider Buying and Selling

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Wednesday, June 25th. The shares were bought at an average cost of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,603.38). 24.59% of the stock is owned by insiders.

Tullow Oil Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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