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

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TLW shares. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research report on Wednesday, June 4th. Canaccord Genuity Group upped their target price on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a "hold" rating in a research report on Thursday, May 29th.

Tullow Oil Stock Down 1.4%

The company's 50-day moving average is GBX 14.90 and its 200 day moving average is GBX 17.14. The company has a market capitalization of £334.80 million, a PE ratio of 21.39, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

Insider Activity at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,861.75). In the last ninety days, insiders have bought 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is owned by 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.