Tullow Oil (LON:TLW) Trading Down 7.6% - Should You Sell?

Key Points

• Tullow Oil's stock price fell by 7.6% to GBX 9.23 ($0.12), with trading volume increasing to approximately 18.5 million shares.
• Analysts from Shore Capital and Canaccord Genuity both lowered their price targets for Tullow Oil's shares, with targets of GBX 30 ($0.40) and GBX 10 ($0.13) respectively.
• Insider Roald Goethe purchased 2 million shares at an average price of GBX 12 ($0.16), indicating a significant investment in the company by insiders.

Tullow Oil plc (LON:TLW - Get Free Report) shares traded down 7.6% during mid-day trading on Tuesday . The company traded as low as GBX 9.23 ($0.12) and last traded at GBX 9.23 ($0.12). 18,525,377 shares changed hands during trading, an increase of 125% from the average session volume of 8,216,844 shares. The stock had previously closed at GBX 9.99 ($0.14).

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.14) and set a "hold" rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group reiterated an "underperform" rating and set a GBX 12 ($0.16) target price on shares of Tullow Oil in a research note on Thursday, August 7th. Finally, Shore Capital lowered their target price on Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.41) and set a "buy" rating on the stock in a research note on Friday, August 8th.

Tullow Oil Stock Up 5.3%

The company has a market capitalization of £211.98 million, a P/E ratio of 13.54, a PEG ratio of -0.19 and a beta of 2.08. 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 stock has a 50 day moving average price of GBX 15.61 and a 200 day moving average price of GBX 15.23.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average cost of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($324,719.25). 24.59% of the stock is owned by insiders.

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.