Tullow Oil (LON:TLW) Trading Down 10.8% After Analyst Downgrade

Key Points

• Tullow Oil's stock dropped 10.8% following an analyst downgrade from Jefferies Financial Group, who lowered their price target from GBX 12 to GBX 6 and maintained an underperform rating.
• In recent analysis, Canaccord Genuity also cut their target from GBX 16 to GBX 10, highlighting a mixed consensus with one Buy, one Hold, and one Sell rating for Tullow Oil.
• Insider Roald Goethe purchased 2,000,000 shares at an average cost of GBX 12, signaling confidence in the company despite recent stock performance.

Tullow Oil plc (LON:TLW - Get Free Report) fell 10.8% during 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 ($0.11) and last traded at GBX 8.24 ($0.11). 24,142,725 shares were traded during mid-day trading, an increase of 201% from the average session volume of 8,026,676 shares. The stock had previously closed at GBX 9.24 ($0.12).

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

Insider Activity at Tullow Oil

In other news, insider Roald Goethe acquired 2,000,000 shares of Tullow Oil stock in a transaction dated Wednesday, August 6th. The shares were 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 Stock Down 11.3%

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 £120.13 million, a P/E ratio of -0.59, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a 50-day moving average of GBX 10.65 and a two-hundred day moving average of GBX 13.38.

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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