Tullow Oil (LON:TLW) Stock Price Down 10.2% on Analyst Downgrade

Key Points

• Tullow Oil's stock price fell 10.2% after Jefferies Financial Group downgraded the stock's price target from GBX 12 to GBX 6 and maintained an underperform rating.
• Despite the downgrade, other analysts provided mixed ratings, with one stating a "buy" rating and a consensus rating of "hold" with an average price target of GBX 15.33.
• Insider Roald Goethe purchased 2,000,000 shares at an average cost of GBX 12, suggesting confidence amidst the stock's recent decline.

Shares of Tullow Oil plc (LON:TLW - Get Free Report) dropped 10.2% during 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 ($0.11) and last traded at GBX 8.30 ($0.11). Approximately 30,649,705 shares changed hands during trading, an increase of 280% from the average daily volume of 8,058,573 shares. The stock had previously closed at GBX 9.24 ($0.12).

Other analysts also recently issued research reports about the stock. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a report on Friday, September 5th. Canaccord Genuity Group dropped their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of GBX 15.33.

Insider Activity at Tullow Oil

In other news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased 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 10.2%

The stock has a market capitalization of £121.60 million, a PE ratio of -0.59, a PEG ratio of -0.19 and a beta of 2.08. 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 business's 50-day moving average is GBX 10.61 and its two-hundred day moving average is GBX 13.35.

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.

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