Tullow Oil (LON:TLW) Trading Down 21% - Should You Sell?

Shares of Tullow Oil plc (LON:TLW - Get Free Report) dropped 21% on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). Approximately 24,900,646 shares were traded during mid-day trading, an increase of 179% from the average daily volume of 8,938,376 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TLW shares. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a report on Wednesday, June 4th. Canaccord Genuity Group boosted their price target on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the company a "hold" rating in a research note on Thursday, May 29th.

Tullow Oil Trading Down 1.4%

The firm has a market cap of £334.80 million, a P/E ratio of 21.39, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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. The company's fifty day moving average price is GBX 14.90 and its two-hundred day moving average price is GBX 17.14.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were acquired at an average cost of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,240.99). Insiders have bought a total of 400,000 shares of company stock worth $5,900,000 over the last ninety days. Corporate 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.