Tullow Oil (LON:TLW) Trading Down 21% - What's Next?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price traded down 21% during mid-day trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). 24,900,646 shares were traded during trading, an increase of 179% from the average session volume of 8,938,376 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a report on Thursday, May 29th. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.

Tullow Oil Price Performance

The company has a 50 day moving average price of GBX 14.90 and a 200-day moving average price of 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. The company has a market cap of £334.80 million, a price-to-earnings ratio of 21.39, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Transactions at Tullow Oil

In related news, insider Roald Goethe bought 100,000 shares of Tullow Oil stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,861.75). Over the last 90 days, insiders have acquired 400,000 shares of company stock worth $5,900,000. Company insiders own 24.59% of the company's stock.

Tullow Oil Company Profile

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.