Tullow Oil (LON:TLW) Shares Down 18.1% - Should You Sell?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price dropped 18.1% during trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.52 ($0.24). Approximately 110,524,000 shares traded hands during trading, an increase of 1,042% from the average daily volume of 9,676,509 shares. The stock had previously closed at GBX 21.40 ($0.29).

Analyst Upgrades and Downgrades

TLW has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the company a "hold" rating in a research report on Thursday, May 29th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.

Tullow Oil Stock Performance

The business has a fifty day simple moving average of GBX 14.61 and a two-hundred day simple moving average of GBX 17.23. 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 company has a market cap of £320.37 million, a P/E ratio of 20.46, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe acquired 100,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,821.86). Over the last 90 days, insiders have bought 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is owned by company insiders.

About Tullow Oil

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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