Tullow Oil plc (LON:TLW - Get Free Report) shares dropped 17.9% on Wednesday . The stock 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).
Wall Street Analysts Forecast Growth
TLW has been the topic of several analyst reports. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 12 ($0.16) target price on shares of Tullow Oil in a research report on Thursday. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, July 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating for the company in a report on Thursday.
Read Our Latest Stock Report on Tullow Oil
Tullow Oil Trading Down 3.6%
The firm has a market cap of £206.80 million, a P/E ratio of 13.21, a P/E/G ratio of -0.19 and a beta of 2.08. The company's 50 day simple moving average is GBX 16.10 and its 200-day simple moving average is GBX 15.62. 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.
Insider Buying and Selling
In other news, insider Roald Goethe purchased 2,000,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,754.17). 24.59% of the stock is owned by corporate insiders.
About Tullow Oil
(
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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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