Tullow Oil (LON:TLW) Trading Down 10.6% After Analyst Downgrade

Key Points

• Tullow Oil's shares dropped 10.6% after an analyst from Jefferies Financial Group downgraded the stock and reduced the price target from GBX 12 to GBX 6.
• Despite the downgrade, Tullow Oil has had mixed ratings from analysts, with a consensus rating of "Hold" and a price target of GBX 15.33.
• Insider activity saw Roald Goethe purchase 2 million shares at an average price of GBX 12, representing a significant investment in the company.

Shares of Tullow Oil plc (LON:TLW - Get Free Report) fell 10.6% during mid-day trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from GBX 12 to GBX 6. Jefferies Financial Group currently has an underperform rating on the stock. Tullow Oil traded as low as GBX 8.01 ($0.11) and last traded at GBX 8.26 ($0.11). 18,805,668 shares changed hands during trading, an increase of 135% from the average session volume of 8,000,514 shares. The stock had previously closed at GBX 9.24 ($0.12).

TLW has been the subject of several other reports. Shore Capital restated a "buy" rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group lowered their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of GBX 15.33.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was bought at an average price of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is owned by corporate insiders.

Tullow Oil Stock Down 11.4%

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 company has a market capitalization of £119.97 million, a price-to-earnings ratio of -0.58, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm's fifty day simple moving average is GBX 10.65 and its two-hundred day simple moving average is GBX 13.38.

About Tullow Oil

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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