Tullow Oil (LON:TLW) Trading Down 7.6% - Here's Why

Key Points

• Tullow Oil's shares dropped by 7.6% to GBX 9.23 ($0.12), with trading volume increasing by 125% compared to the daily average.
• Analysts have revised their price targets for Tullow Oil, with Jefferies maintaining an "underperform" rating and setting a target of GBX 12 ($0.16), while Canaccord Genuity lowered theirs to GBX 10 ($0.13).
• Insider Roald Goethe purchased 2 million shares at GBX 12 ($0.16), signifying continued confidence from management as insiders hold 24.59% of the company's stock.

Tullow Oil plc (LON:TLW - Get Free Report) shares were down 7.6% during trading on Tuesday . The stock traded as low as GBX 9.23 ($0.13) and last traded at GBX 9.23 ($0.13). Approximately 18,525,377 shares traded hands during trading, an increase of 125% from the average daily volume of 8,216,844 shares. The stock had previously closed at GBX 9.99 ($0.14).

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TLW shares. Shore Capital decreased their target price on shares of 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. Canaccord Genuity Group decreased their target price 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 research note on Thursday, August 7th. Finally, Jefferies Financial Group reissued an "underperform" rating and issued a GBX 12 ($0.16) price objective on shares of Tullow Oil in a research note on Thursday, August 7th.

Tullow Oil Stock Down 3.3%

The firm's fifty day moving average price is GBX 15.50 and its two-hundred day moving average price is GBX 15.17. The stock has a market cap of £204.95 million, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

Insider Buying and Selling at Tullow Oil

In related news, insider Roald Goethe acquired 2,000,000 shares of the company's stock in a transaction dated 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 ($325,291.41). Corporate 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.