Tullow Oil (LON:TLW) Stock Price Down 7.6% - Time to Sell?

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)'s stock price was 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). Approximately 18,525,377 shares were traded during mid-day 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

Several analysts have issued reports on the stock. Shore Capital decreased their price target 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 report on Friday, August 8th. Jefferies Financial Group restated an "underperform" rating and issued a GBX 12 ($0.16) price target on shares of Tullow Oil in a research report on Thursday, August 7th. Finally, Canaccord Genuity Group decreased their price target 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 report on Thursday, August 7th.

Tullow Oil Stock Up 5.3%

The business's fifty day moving average price is GBX 15.61 and its 200 day moving average price is GBX 15.23. The company has a market capitalization of £211.98 million, a P/E ratio of 13.54, 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.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 2,000,000 shares of Tullow Oil stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($324,719.25). 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.