Shares of 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 mid-day 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
A number of brokerages have issued reports on TLW. Jefferies Financial Group reissued an "underperform" rating and set a GBX 12 ($0.16) price objective on shares of Tullow Oil in a report on Thursday. Shore Capital lowered their target price on Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating for the company in a research note on Friday. Finally, Canaccord Genuity Group lowered their target price on Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating for the company in a research note on Thursday.
Check Out Our Latest Stock Analysis on Tullow Oil
Tullow Oil Stock Performance
The firm has a fifty day moving average of GBX 16.01 and a 200-day moving average of GBX 15.45. The firm has a market cap of £170.73 million, a P/E ratio of 10.91, 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 bought 2,000,000 shares of Tullow Oil stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,667.38). Company insiders own 24.59% of the company's stock.
Tullow Oil Company Profile
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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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