Tullow Oil plc (LON:TLW - Get Free Report)'s share price was down 20.2% during mid-day trading on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.08 ($0.23). Approximately 114,132,828 shares traded hands during trading, an increase of 1,076% from the average daily volume of 9,707,619 shares. The stock had previously closed at GBX 21.40 ($0.29).
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on TLW shares. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research report on Wednesday, June 4th. Canaccord Genuity Group lifted their target price on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a "hold" rating in a research note on Thursday, May 29th.
Check Out Our Latest Stock Report on Tullow Oil
Tullow Oil Price Performance
The company has a 50 day moving average of GBX 14.90 and a 200 day moving average of GBX 17.14. The stock has a market capitalization of £334.80 million, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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.
Insider Activity
In related news, insider Roald Goethe purchased 150,000 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average price of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,240.99). Insiders purchased a total of 400,000 shares of company stock valued at $5,900,000 in the last 90 days. 24.59% of the stock is currently owned by insiders.
About Tullow Oil
(
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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