Tullow Oil (LON:TLW) Stock Price Down 7.6% After Analyst Downgrade

Key Points

• Tullow Oil's stock price fell 7.6% following an analyst downgrade from Shore Capital, which lowered its price target from GBX 45 to GBX 30 while maintaining a buy rating.
• Other analysts have also adjusted their ratings, with Canaccord Genuity lowering its target price to GBX 10 and maintaining a "hold" rating, while Jefferies has a target price of GBX 12 with an "underperform" rating.
• Insider Roald Goethe purchased 2 million shares at an average cost of GBX 12, indicating continued confidence in Tullow Oil by its insiders.

Shares of Tullow Oil plc (LON:TLW - Get Free Report) dropped 7.6% on Monday after Shore Capital lowered their price target on the stock from GBX 45 to GBX 30. Shore Capital currently has a buy rating on the stock. Tullow Oil traded as low as GBX 9.23 ($0.12) and last traded at GBX 9.23 ($0.12). Approximately 18,525,377 shares were traded during trading, an increase of 125% from the average daily volume of 8,216,844 shares. The stock had previously closed at GBX 9.99 ($0.13).

TLW has been the subject of several other research reports. Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 ($0.21) to GBX 10 ($0.13) and set a "hold" rating on the stock in a research report on Thursday. Jefferies Financial Group restated an "underperform" rating and set a GBX 12 ($0.16) target price on shares of Tullow Oil in a research report on Thursday.

Insider Activity at Tullow Oil

In related news, insider Roald Goethe purchased 2,000,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,364.00). 24.59% of the stock is owned by insiders.

Tullow Oil Stock Performance

The company has a market cap of £170.73 million, a PE ratio of 10.91, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The business has a fifty day moving average of GBX 15.90 and a 200-day moving average of GBX 15.37.

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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