Tullow Oil (LON:TLW) Trading Down 16.6% - Here's Why

Key Points

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Tullow Oil plc (LON:TLW - Get Free Report) shares fell 16.6% during mid-day trading on Wednesday . The stock traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.95 ($0.16). 36,763,664 shares were traded during trading, an increase of 359% from the average session volume of 8,014,342 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analysts Set New Price Targets

A number of analysts recently commented on TLW shares. 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. Jefferies Financial Group reaffirmed an "underperform" rating and set a GBX 12 ($0.16) target price on shares of Tullow Oil in a research note on Thursday. Finally, Canaccord Genuity Group reduced their price target 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 report on Thursday.

Tullow Oil Stock Performance

The company has a 50 day moving average of GBX 16.01 and a two-hundred day moving average of GBX 15.49. 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 company has a market capitalization of £184.79 million, a PE ratio of 11.80, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity at Tullow Oil

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 stock was bought at an average cost 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

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.