Tullow Oil (LON:TLW) Stock Price Down 10.2% - Time to Sell?

Key Points

• Tullow Oil's shares dropped by 10.2% during trading, reaching a low of GBX 8 and an increase in trading volume of 280% compared to the average daily volume.
• Analysts have adjusted their price targets considerably, with Canaccord Genuity setting a target of GBX 10 and Jefferies Financial Group lowering theirs to GBX 6, as the stock receives mixed ratings.
• Insider Roald Goethe purchased 2,000,000 shares at an average price of GBX 12, indicating a level of confidence in the company's future despite recent stock price declines.

Tullow Oil plc (LON:TLW - Get Free Report) shares dropped 10.2% during trading on Wednesday . The company traded as low as GBX 8 ($0.11) and last traded at GBX 8.30 ($0.11). Approximately 30,649,705 shares were traded 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).

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TLW shares. Canaccord Genuity Group dropped their price target on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a research report on Thursday, August 7th. Shore Capital restated a "buy" rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Jefferies Financial Group reduced their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating on the stock in a report on Monday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of GBX 15.33.

Tullow Oil Stock Up 8.3%

The stock has a market cap of £131.71 million, a price-to-earnings ratio of -0.64, 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. The firm's 50 day moving average is GBX 10.61 and its two-hundred day moving average is GBX 13.35.

Insider Buying and Selling at Tullow Oil

In other news, insider Roald Goethe acquired 2,000,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was acquired at an average price of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is currently owned by corporate 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.

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