Tullow Oil (LON:TLW) Trading Down 19% - Time to Sell?

Key Points

• Tullow Oil's shares fell by 19%, trading as low as GBX 11.20 ($0.15) during mid-day trading, significantly below its previous close of GBX 14.32 ($0.19).
• Despite the drop in stock price, Shore Capital maintained a "buy" rating, while Canaccord Genuity raised their target price to GBX 16 ($0.21) and issued a "hold" rating.
• Corporate insider Roald Goethe purchased 100,000 shares at £17, signaling confidence in the company amidst the recent decline in share price.

Tullow Oil plc (LON:TLW - Get Free Report)'s share price fell 19% on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.60 ($0.15). 32,951,082 shares traded hands during trading, an increase of 312% from the average session volume of 7,989,093 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analyst Ratings Changes

TLW has been the topic of a number of research analyst reports. Jefferies Financial Group restated an "underperform" rating and set a GBX 12 ($0.16) price target on shares of Tullow Oil in a report on Thursday. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group decreased their target price on Tullow Oil from GBX 16 ($0.21) to GBX 10 ($0.13) and set a "hold" rating for the company in a report on Thursday.

Tullow Oil Price Performance

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 stock has a market cap of £206.80 million, a P/E ratio of 13.21, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm has a 50-day moving average price of GBX 16.10 and a 200-day moving average price of GBX 15.62.

Insider Buying and Selling

In related news, insider Roald Goethe purchased 2,000,000 shares of Tullow Oil stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($320,598.45). Company insiders own 24.59% of the company's stock.

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.