Tullow Oil plc (LON:TLW - Get Free Report) traded down 18% on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.55 ($0.24). 113,032,531 shares traded hands during mid-day trading, an increase of 1,066% from the average session volume of 9,698,134 shares. The stock had previously closed at GBX 21.40 ($0.29).
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Canaccord Genuity Group raised their target price on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a research report on Thursday, May 29th. Shore Capital restated a "buy" rating on shares of Tullow Oil in a research report on Wednesday, June 4th.
Check Out Our Latest Stock Report on Tullow Oil
Tullow Oil Stock Performance
The stock has a market cap of £334.80 million, a PE ratio of 21.39, a P/E/G 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. The stock has a 50-day moving average of GBX 14.90 and a 200 day moving average of GBX 17.18.
Insider Buying and Selling
In related news, insider Roald Goethe acquired 150,000 shares of Tullow Oil stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,240.99). Over the last 90 days, insiders have purchased 400,000 shares of company stock worth $5,900,000. 24.59% of the stock is owned by corporate 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.
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