Shares of Tullow Oil plc (LON:TLW - Get Free Report) dropped 19% during mid-day trading on Wednesday . The company traded as low as GBX 11.20 ($0.15) and last traded at GBX 11.60 ($0.16). Approximately 32,951,082 shares changed hands during trading, an increase of 312% from the average daily volume of 7,989,093 shares. The stock had previously closed at GBX 14.32 ($0.19).
Wall Street Analysts Forecast Growth
TLW has been the topic of several analyst reports. Canaccord Genuity Group decreased their price target on 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. Jefferies Financial Group restated an "underperform" rating and issued a GBX 12 ($0.16) price objective on shares of Tullow Oil in a report on Thursday. Finally, Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research note on Wednesday, July 30th.
Get Our Latest Analysis on TLW
Tullow Oil Trading Down 3.6%
The stock has a market capitalization of £206.80 million, a P/E ratio of 13.21, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a 50-day moving average price of GBX 16.10 and a 200 day moving average price of GBX 15.62. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.
Insiders Place Their Bets
In other news, insider Roald Goethe acquired 2,000,000 shares of the business's stock in a transaction 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 ($322,754.17). Corporate insiders own 24.59% of the company's stock.
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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