Tullow Oil plc (LON:TLW - Get Free Report) shares traded down 15.9% on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 12.04 ($0.16). 28,863,021 shares changed hands during trading, an increase of 263% from the average session volume of 7,962,020 shares. The stock had previously closed at GBX 14.32 ($0.19).
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.13) and set a "hold" rating on the stock in a research note on Thursday. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 12 ($0.16) price target on shares of Tullow Oil in a research note on Thursday. Finally, Shore Capital decreased their price target on shares of Tullow Oil from GBX 45 ($0.61) to GBX 30 ($0.40) and set a "buy" rating on the stock in a research note on Friday.
Read Our Latest Analysis on TLW
Tullow Oil Stock Performance
The business's fifty day moving average price is GBX 16.01 and its two-hundred day moving average price is GBX 15.49. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market capitalization 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 Buying and Selling
In other news, insider Roald Goethe purchased 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average cost of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,797.58). 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.
Further Reading
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