Tullow Oil plc (LON:TLW - Get Free Report)'s stock price was down 16.5% on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.96 ($0.16). Approximately 39,117,922 shares changed hands during mid-day trading, an increase of 387% from the average daily volume of 8,029,933 shares. The stock had previously closed at GBX 14.32 ($0.19).
Analysts Set New Price Targets
Several equities analysts have weighed in on TLW shares. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 12 ($0.16) target price on shares of Tullow Oil in a report on Thursday. Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating on the stock in a report on Thursday. Finally, Shore Capital decreased their target price on shares of Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating on the stock in a report on Friday.
View Our Latest Report on TLW
Tullow Oil Stock Down 10.6%
The business's 50 day moving average price is GBX 16.01 and its 200-day moving average price is GBX 15.45. The firm has a market capitalization of £184.79 million, a PE ratio of 11.80, 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
In related news, insider Roald Goethe purchased 2,000,000 shares of Tullow Oil stock in a transaction dated Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,667.38). Company insiders own 24.59% of the company's stock.
About Tullow Oil
(
Get Free Report)
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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