Shares of Tullow Oil plc (LON:TLW - Get Free Report) were down 17.4% on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.68 ($0.24). Approximately 106,867,914 shares were traded during trading, an increase of 1,008% from the average daily volume of 9,644,990 shares. The stock had previously closed at GBX 21.40 ($0.29).
Analysts Set New Price Targets
Several research analysts have recently weighed in on TLW shares. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group increased their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a "hold" rating in a research note on Thursday, May 29th.
Get Our Latest Analysis on Tullow Oil
Tullow Oil Trading Down 1.4%
The firm has a 50 day simple moving average of GBX 14.90 and a 200 day simple moving average of GBX 17.14. 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. The firm has a market cap of £334.80 million, a P/E ratio of 21.39, a P/E/G ratio of -0.19 and a beta of 2.08.
Insiders Place Their Bets
In related news, insider Roald Goethe bought 150,000 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired at an average price of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,240.99). Insiders purchased a total of 400,000 shares of company stock worth $5,900,000 in the last quarter. 24.59% of the stock is owned by company insiders.
About Tullow Oil
(
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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.
Further Reading
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