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Tullow Oil (LON:TLW) Trading Down 18.3% - Should You Sell?

Tullow Oil logo with Energy background

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price was down 18.3% during mid-day trading on Wednesday . The company traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.47 ($0.23). Approximately 110,517,383 shares changed hands during trading, an increase of 1,042% from the average daily volume of 9,676,451 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TLW shares. Shore Capital restated a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group raised their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a "hold" rating in a research note on Thursday, May 29th.

Read Our Latest Stock Analysis on Tullow Oil

Tullow Oil Stock Down 1.4%

The business has a 50-day simple moving average of GBX 14.90 and a two-hundred day simple moving average of GBX 17.14. 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. The company 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.

Insiders Place Their Bets

In related news, insider Roald Goethe acquired 150,000 shares of the firm's stock in a transaction on Friday, April 4th. 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). In the last ninety days, insiders purchased 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is owned by company insiders.

About Tullow Oil

(Get Free Report)

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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