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Tullow Oil (LON:TLW) Shares Down 4.8% Following Analyst Downgrade

Tullow Oil logo with Energy background

Key Points

  • Tullow Oil shares fell by 4.8% following an analyst downgrade from Jefferies Financial Group, which reduced its price target from GBX 12 to GBX 6 and issued an underperform rating.
  • Despite the downgrade, Tullow Oil's stock has mixed ratings with one Buy, one Hold, and one Sell, leading to an average rating of "Hold" and a consensus target price of GBX 15.33.
  • Insider Roald Goethe bought 2,000,000 shares at GBX 12 each in August, indicating some level of confidence in the company among insiders.
  • MarketBeat previews top five stocks to own in November.

Tullow Oil plc (LON:TLW - Get Free Report) shares were down 4.8% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from GBX 12 to GBX 6. Jefferies Financial Group currently has an underperform rating on the stock. Tullow Oil traded as low as GBX 8.70 ($0.12) and last traded at GBX 8.80 ($0.12). Approximately 10,354,157 shares changed hands during trading, an increase of 30% from the average daily volume of 7,959,085 shares. The stock had previously closed at GBX 9.24 ($0.12).

TLW has been the topic of a number of other research reports. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group reduced their price target on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of GBX 15.33.

Get Our Latest Stock Analysis on TLW

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 2,000,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average price of GBX 12 per share, for a total transaction of £240,000. Insiders own 1.34% of the company's stock.

Tullow Oil Trading Down 5.2%

The business has a fifty day moving average price of GBX 10.65 and a 200 day moving average price of GBX 13.38. The firm has a market cap of £128.39 million, a PE ratio of -0.63, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

Tullow Oil Company Profile

(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.

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