Tullow Oil (LON:TLW) Stock Price Down 17.4% - What's Next?

Shares of Tullow Oil plc (LON:TLW - Get Free Report) traded 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). 106,867,914 shares were traded during mid-day trading, an increase of 1,008% from the average session volume of 9,644,990 shares. The stock had previously closed at GBX 21.40 ($0.29).

Analyst Ratings Changes

A number of equities research analysts have weighed in on TLW shares. Canaccord Genuity Group raised their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the company a "hold" rating in a research note on Thursday, May 29th. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.

Tullow Oil Trading Down 16.4%

The company has a 50 day moving average of GBX 14.61 and a 200 day moving average of GBX 17.23. The firm has a market cap of £330.73 million, a P/E ratio of 21.13, a PEG 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 Transactions at Tullow Oil

In other news, insider Roald Goethe bought 100,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,821.86). Over the last three months, insiders bought 400,000 shares of company stock worth $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.

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