Tullow Oil (LON:TLW) Stock Price Down 21% - Here's Why

Tullow Oil plc (LON:TLW - Get Free Report) shares fell 21% during trading 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 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).

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TLW. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group increased 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.

Tullow Oil Trading Down 1.4%

The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The company has a market cap of £334.80 million, a PE ratio of 21.39, 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 14.90 and its two-hundred day simple moving average is GBX 17.18.

Insider Activity

In other Tullow Oil news, insider Roald Goethe acquired 150,000 shares of the stock in a transaction dated 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 ($28,240.99). Over the last quarter, insiders acquired 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is currently owned by company insiders.

Tullow Oil Company Profile

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.