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Tullow Oil (LON:TLW) Trading Down 18.2% - Time to Sell?

Tullow Oil logo with Energy background

Tullow Oil plc (LON:TLW - Get Free Report)'s share price fell 18.2% during trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.50 ($0.24). 112,878,094 shares were traded during trading, an increase of 1,064% from the average session volume of 9,696,803 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analyst Weigh In

Several brokerages have recently commented on TLW. Canaccord Genuity Group raised their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a research note on Thursday, May 29th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.

Get Our Latest Stock Report on Tullow Oil

Tullow Oil Stock Performance

The firm has a 50-day moving average of GBX 14.90 and a two-hundred day moving average of GBX 17.18. 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 company has a market capitalization of £334.80 million, a PE ratio of 21.39, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity at Tullow Oil

In related news, insider Roald Goethe purchased 100,000 shares of Tullow Oil stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average cost of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,861.75). Over the last ninety days, insiders purchased 400,000 shares of company stock worth $5,900,000. 24.59% of the stock is owned by corporate insiders.

Tullow Oil Company Profile

(Get Free Report)

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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