Tullow Oil (LON:TLW) Stock Price Down 19% - Should You Sell?

Key Points

• Tullow Oil's stock fell by 19% during trading, reaching a low of GBX 11.20 ($0.15) and showing a significant increase in trading volume, up 312% compared to the average.
• Despite the drop in share price, analysts have maintained a "buy" and "hold" rating, with Canaccord Genuity raising their price target from GBX 14 to GBX 16.
• Insider Roald Goethe purchased 100,000 shares at GBX 17 ($0.23), indicating confidence from leadership as company insiders now own 24.59% of the stock.

Tullow Oil plc (LON:TLW - Get Free Report) dropped 19% during trading on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.60 ($0.16). Approximately 32,951,082 shares traded hands during trading, an increase of 312% from the average daily volume of 7,989,093 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analyst Ratings Changes

TLW has been the subject of several analyst reports. Shore Capital lowered their price target on shares of Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating for the company in a report on Friday. Canaccord Genuity Group lowered their target price 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. Finally, Jefferies Financial Group restated an "underperform" rating and issued a GBX 12 ($0.16) target price on shares of Tullow Oil in a report on Thursday.

Tullow Oil Stock Performance

The firm's fifty day moving average price is GBX 16.01 and its 200-day moving average price is GBX 15.45. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The firm has a market cap of £184.79 million, a price-to-earnings ratio of 11.80, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity

In related news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,667.38). Insiders own 24.59% of the company's stock.

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.