Shares of Tullow Oil plc (LON:TLW - Get Free Report) fell 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). 13,618,310 shares were traded during mid-day trading, an increase of 73% from the average session volume of 7,861,061 shares. The stock had previously closed at GBX 14.32 ($0.19).
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on TLW. Jefferies Financial Group reaffirmed an "underperform" rating and issued a GBX 12 ($0.16) price target on shares of Tullow Oil in a research note on Thursday. Canaccord Genuity Group dropped their price target on Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating for the company in a research note on Thursday. Finally, Shore Capital dropped their price target on Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating for the company in a research note on Friday.
Check Out Our Latest Stock Report on Tullow Oil
Tullow Oil Stock Performance
The business has a fifty day simple moving average of GBX 16.01 and a 200-day simple moving average of GBX 15.49. 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 firm has a market cap of £184.79 million, a P/E ratio of 11.80, a P/E/G ratio of -0.19 and a beta of 2.08.
Insider Transactions at Tullow Oil
In other news, insider Roald Goethe acquired 2,000,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was acquired at an average price of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,797.58). Company insiders own 24.59% of the company's stock.
About Tullow Oil
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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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