Tullow Oil (LON:TLW) Shares Down 19.1% - What's Next?

Tullow Oil plc (LON:TLW - Get Free Report) was down 19.1% during mid-day trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.32 ($0.23). Approximately 110,832,781 shares traded hands during trading, an increase of 1,045% from the average daily volume of 9,679,171 shares. The stock had previously closed at GBX 21.40 ($0.29).

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TLW shares. Canaccord Genuity Group increased their target price on shares of 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. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th.

Tullow Oil Price Performance

The stock has a market capitalization of £334.80 million, a P/E ratio of 21.39, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business's 50 day simple moving average is GBX 14.90 and its two-hundred day simple moving average is GBX 17.18. 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 Buying and Selling at Tullow Oil

In other news, insider Roald Goethe purchased 150,000 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,240.99). Over the last three months, insiders have acquired 400,000 shares of company stock valued at $5,900,000. Corporate 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.