Tullow Oil plc (LON:TLW - Get Free Report) fell 21% on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). 24,900,646 shares changed hands during mid-day trading, an increase of 179% from the average session volume of 8,938,376 shares. The stock had previously closed at GBX 21.40 ($0.29).
Analyst Ratings Changes
Several research firms recently commented on TLW. Canaccord Genuity Group raised their price target on shares of Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a report on Thursday, May 29th. Shore Capital restated a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th.
Get Our Latest Report on TLW
Tullow Oil Stock Up 8.6%
The firm has a market capitalization of £339.61 million, a PE ratio of 21.69, a P/E/G 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. The firm's 50 day moving average price is GBX 14.71 and its two-hundred day moving average price is GBX 17.22.
Insider Activity at Tullow Oil
In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,892.54). Over the last 90 days, insiders acquired 400,000 shares of company stock valued at $5,900,000. Insiders own 24.59% of the company's stock.
About Tullow Oil
(
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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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