Shares of Tullow Oil plc (LON:TLW - Get Free Report) were down 17.9% during trading on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.76 ($0.16). Approximately 24,097,885 shares traded hands during mid-day trading, an increase of 204% from the average daily volume of 7,930,462 shares. The stock had previously closed at GBX 14.32 ($0.19).
Analyst Upgrades and Downgrades
TLW has been the subject of several analyst reports. Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating for the company in a research report on Thursday. Shore Capital cut their target price on Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating for the company in a research report on Friday. Finally, Jefferies Financial Group restated an "underperform" rating and set a GBX 12 ($0.16) target price on shares of Tullow Oil in a research report on Thursday.
Get Our Latest Research Report on Tullow Oil
Tullow Oil Trading Down 10.6%
The company has a fifty day simple moving average of GBX 16.01 and a two-hundred day simple moving average of GBX 15.49. 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. The stock has a market capitalization of £184.79 million, a P/E ratio of 11.80, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.
Insider Activity
In other Tullow Oil news, insider Roald Goethe purchased 2,000,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,797.58). Corporate insiders own 24.59% of the company's stock.
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.
Further Reading
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