Tullow Oil plc (LON:TLW - Get Free Report)'s share price dropped 21% on Wednesday . The company traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). Approximately 24,896,229 shares were traded during trading, an increase of 179% from the average daily volume of 8,938,338 shares. The stock had previously closed at GBX 21.40 ($0.29).
Analyst Ratings Changes
A number of analysts have issued reports on TLW shares. Canaccord Genuity Group lifted their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a "hold" rating in a research note on Thursday, May 29th. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research report on Wednesday, June 4th.
Read Our Latest Stock Analysis on TLW
Tullow Oil Trading Down 21.0%
The firm has a market capitalization of £312.60 million, a PE ratio of 19.97, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company's 50-day simple moving average is GBX 14.61 and its 200 day simple moving average is GBX 17.23. 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 other Tullow Oil news, insider Roald Goethe purchased 150,000 shares of the stock in a transaction on Friday, April 4th. The stock was acquired at an average price of GBX 14 ($0.19) per share, with a total value of £21,000 ($28,191.70). Insiders bought a total of 400,000 shares of company stock worth $5,900,000 in the last 90 days. 24.59% of the stock is owned by corporate insiders.
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.
Further Reading
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