Tullow Oil plc (LON:TLW - Get Free Report)'s stock price fell 19% during mid-day trading on Thursday after Shore Capital lowered their price target on the stock from GBX 45 to GBX 30. Shore Capital currently has a buy rating on the stock. Tullow Oil traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.60 ($0.16). 32,951,082 shares were traded during mid-day trading, an increase of 312% from the average session volume of 7,989,093 shares. The stock had previously closed at GBX 14.32 ($0.19).
Several other equities research analysts also recently issued reports on the company. Jefferies Financial Group restated an "underperform" rating and set a GBX 12 ($0.16) price objective on shares of Tullow Oil in a report on Thursday. Canaccord Genuity Group reduced 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 report on Thursday.
Get Our Latest Report on Tullow Oil
Insider Buying and Selling
In other news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were purchased at an average price of GBX 12 ($0.16) per share, for a total transaction of £240,000 ($322,667.38). 24.59% of the stock is owned by company insiders.
Tullow Oil Trading Down 7.6%
The company has a market capitalization of £170.73 million, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business has a fifty day moving average price of GBX 16.01 and a 200 day moving average price of GBX 15.45. 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.
Tullow Oil Company Profile
(
Get Free Report)
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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