Tullow Oil (LON:TLW) Trading Down 10.2% - Here's Why

Key Points

• Tullow Oil shares fell by 10.2% on Wednesday, trading at GBX 8.30 ($0.11) after a significant increase in trading volume.
• After recent assessments, analysts have lowered their price targets, with Canaccord Genuity setting a target of GBX 10 and Jefferies Financial Group dropping it to GBX 6, indicating mixed outlooks for the stock.
• Company insider Roald Goethe purchased 2 million shares at GBX 12 each, demonstrating continued confidence in Tullow Oil despite recent stock declines.

Tullow Oil plc (LON:TLW - Get Free Report) was down 10.2% during trading on Wednesday . The stock traded as low as GBX 8 ($0.11) and last traded at GBX 8.30 ($0.11). Approximately 30,649,705 shares were traded during mid-day trading, an increase of 280% from the average daily volume of 8,058,573 shares. The stock had previously closed at GBX 9.24 ($0.12).

Analysts Set New Price Targets

Several equities research analysts recently commented on TLW shares. Canaccord Genuity Group lowered their price target on Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a research note on Thursday, August 7th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Jefferies Financial Group lowered their price target on Tullow Oil from GBX 12 to GBX 6 and set an "underperform" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of GBX 15.33.

Tullow Oil Trading Up 8.3%

The company has a fifty day moving average of GBX 10.61 and a two-hundred day moving average of GBX 13.35. 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 stock has a market capitalization of £131.71 million, a price-to-earnings ratio of -0.64, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

Insiders Place Their Bets

In related news, insider Roald Goethe bought 2,000,000 shares of Tullow Oil stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of GBX 12 per share, for a total transaction of £240,000. Company insiders own 1.34% 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.

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