Tullow Oil (LON:TLW) Stock Price Down 16.5% - Time to Sell?

Key Points

• Tullow Oil's stock price fell by 16.5% during mid-day trading, closing at GBX 11.96 ($0.16), a significant drop from GBX 14.32 ($0.19).
• Equity analysts have set new price targets, with Canaccord Genuity raising their target from GBX 14 ($0.19) to GBX 16 ($0.21) while maintaining a "hold" rating.
• Insider Roald Goethe recently purchased 100,000 shares at GBX 17 ($0.23), showing confidence in the company's prospects as insiders own 24.59% of the stock.

Shares of Tullow Oil plc (LON:TLW - Get Free Report) traded down 16.5% during mid-day trading on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.96 ($0.16). 39,117,922 shares were traded during mid-day trading, an increase of 387% from the average session 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 recently commented on the stock. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Wednesday, July 30th. Canaccord Genuity Group boosted their price objective on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the company a "hold" rating in a research report on Thursday, May 29th.

Tullow Oil Price Performance

The stock has a fifty day moving average of GBX 16.21 and a two-hundred day moving average of GBX 15.73. The stock has a market cap of £214.57 million, a price-to-earnings ratio of 13.71, a price-to-earnings-growth 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.

Insiders Place Their Bets

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Wednesday, June 25th. The stock was bought at an average price of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,603.38). Corporate insiders own 24.59% of the company's stock.

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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