Tullow Oil plc (LON:TLW - Get Free Report) shares fell 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). 110,524,000 shares were traded during mid-day trading, an increase of 1,042% from the average session volume of 9,676,509 shares. The stock had previously closed at GBX 21.40 ($0.29).
Wall Street Analysts Forecast Growth
Several research firms have recently commented on TLW. Canaccord Genuity Group raised their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a report on Thursday, May 29th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.
Check Out Our Latest Research Report on Tullow Oil
Tullow Oil Stock Performance
The firm has a fifty day moving average of GBX 14.90 and a 200-day moving average of GBX 17.14. The stock has a market capitalization of £334.80 million, a price-to-earnings ratio of 21.39, a PEG ratio of -0.19 and a beta of 2.08. 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 Transactions at Tullow Oil
In related news, insider Roald Goethe purchased 150,000 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was bought at an average cost of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,240.99). Insiders purchased a total of 400,000 shares of company stock valued at $5,900,000 over the last three months. 24.59% of the stock is currently owned by 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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