Shares of Tullow Oil plc (LON:TLW - Get Free Report) fell 21% during trading on Wednesday . The company traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). 24,900,646 shares were traded during 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).
Analysts Set New Price Targets
A number of brokerages have recently commented on TLW. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group lifted 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.
Read Our Latest Stock Analysis on TLW
Tullow Oil Stock Down 1.4%
The stock has a 50 day moving average price of GBX 14.90 and a 200 day moving average price of GBX 17.18. 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 Buying and Selling
In related news, insider Roald Goethe acquired 150,000 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,240.99). Insiders have purchased a total of 400,000 shares of company stock valued at $5,900,000 over the last ninety days. 24.59% of the stock is owned by company insiders.
Tullow Oil Company Profile
(
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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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