Shares of Tullow Oil plc (LON:TLW - Get Free Report) traded down 19% on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.60 ($0.15). 32,951,082 shares traded hands during trading, an increase of 312% from the average session volume of 7,989,093 shares. The stock had previously closed at GBX 14.32 ($0.19).
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on TLW. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a report on Wednesday, July 30th. Canaccord Genuity Group upped their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a "hold" rating in a report on Thursday, May 29th.
View Our Latest Research Report on TLW
Tullow Oil Price Performance
The stock has a 50 day moving average price of GBX 16.21 and a two-hundred day moving average price of GBX 15.73. 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 £214.57 million, a PE ratio of 13.71, a P/E/G ratio of -0.19 and a beta of 2.08.
Insider Activity at Tullow Oil
In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction dated Wednesday, June 25th. The stock was bought at an average cost of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,709.06). 24.59% of the stock is currently 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.
Further Reading
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