Tullow Oil (LON:TLW) Trading Down 14.5% - Time to Sell?

Key Points

• Tullow Oil's shares fell by 14.5% on Wednesday, trading as low as GBX 12.20 ($0.16) after previously closing at GBX 14.32 ($0.19), with a significant increase in trading volume of 73% over the average session.
• Analysts remain cautiously optimistic, as Canaccord Genuity raised their price target from GBX 14 ($0.19) to GBX 16 ($0.21), while Shore Capital maintained a "buy" rating.
• Insider Roald Goethe purchased 100,000 shares at an average of GBX 17 ($0.23), reflecting a belief in the company's potential despite its recent stock downturn.

Tullow Oil plc (LON:TLW - Get Free Report)'s stock price was down 14.5% during trading on Wednesday . The company traded as low as GBX 12.20 ($0.16) and last traded at GBX 12.25 ($0.16). Approximately 13,618,310 shares traded hands during trading, an increase of 73% from the average daily volume of 7,861,061 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analysts Set New Price Targets

A number of analysts recently weighed in on TLW shares. Canaccord Genuity Group decreased their price objective on Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating for the company in a report on Thursday. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 12 ($0.16) target price on shares of Tullow Oil in a report on Thursday. Finally, Shore Capital restated a "buy" rating on shares of Tullow Oil in a report on Wednesday, July 30th.

Tullow Oil Stock Performance

The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The stock has a fifty day simple moving average of GBX 16.10 and a two-hundred day simple moving average of GBX 15.62. The firm has a market capitalization of £206.80 million, a P/E ratio of 13.21, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Activity

In related news, insider Roald Goethe bought 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,754.17). 24.59% of the stock is owned by insiders.

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.