Tullow Oil plc (LON:TLW - Get Free Report) shares traded down 15.9% on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 12.04 ($0.16). 28,863,021 shares traded hands during mid-day 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 Analyst Weigh In
TLW has been the subject of a number of analyst reports. Canaccord Genuity Group reduced their price objective on shares of 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. Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 12 ($0.16) price objective on shares of Tullow Oil in a research report on Thursday. Finally, Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a report on Wednesday, July 30th.
Check Out Our Latest Report on Tullow Oil
Tullow Oil Stock Performance
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 stock has a market capitalization of £206.80 million, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The stock's 50-day simple moving average is GBX 16.10 and its 200 day simple moving average is GBX 15.62.
Insider Activity
In other Tullow Oil news, insider Roald Goethe purchased 2,000,000 shares of the firm'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, for a total transaction of £240,000 ($322,754.17). Company insiders own 24.59% of the company's stock.
Tullow Oil Company Profile
(
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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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