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
(
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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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