Tullow Oil (LON:TLW) Trading Down 14.8% - Here's What Happened

Tullow Oil plc (LON:TLW - Get Free Report) shares fell 14.8% during trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 18.24 ($0.25). 108,555,297 shares traded hands during trading, an increase of 1,024% from the average session volume of 9,659,537 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analysts Forecast Growth

A number of research firms have commented on TLW. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th. Canaccord Genuity Group increased their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a research report on Thursday, May 29th.

Tullow Oil Price Performance

The business's 50 day moving average price is GBX 14.71 and its 200 day moving average price is GBX 17.22. The stock has a market capitalization of £339.61 million, a P/E ratio of 21.69, 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 Activity at Tullow Oil

In other news, insider Roald Goethe acquired 150,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,279.02). Insiders have purchased a total of 400,000 shares of company stock worth $5,900,000 over the last quarter. Company 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.