Tullow Oil (LON:TLW) Stock Price Down 16.6% - What's Next?

Key Points

• Tullow Oil's share price has dropped by 16.6% during mid-day trading, falling to GBX 11.95 ($0.16) after closing at GBX 14.32 ($0.19).
• Analysts have issued mixed ratings, with Canaccord Genuity raising its price target to GBX 16 ($0.21) and maintaining a "hold" rating.
• Insider Roald Goethe invested by purchasing 100,000 shares at an average price of GBX 17 ($0.23), suggesting confidence in the company's future performance.

Tullow Oil plc (LON:TLW - Get Free Report)'s share price traded down 16.6% during mid-day trading on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.95 ($0.16). 36,763,664 shares changed hands during trading, an increase of 359% from the average session volume of 8,014,342 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analysts Set New Price Targets

A number of research analysts have issued reports 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 target on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a "hold" rating in a research report on Thursday, May 29th.

Tullow Oil Price Performance

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 business's fifty day moving average is GBX 16.21 and its 200 day moving average is GBX 15.73. The firm has a market capitalization of £220.98 million, a P/E ratio of 14.12, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe bought 100,000 shares of Tullow Oil stock in a transaction dated 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). 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.

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