Tullow Oil (LON:TLW) Trading Down 8.5% - Should You Sell?

Tullow Oil plc (LON:TLW - Get Free Report)'s share price traded down 8.5% on Wednesday . The stock traded as low as GBX 19.34 ($0.26) and last traded at GBX 19.57 ($0.26). 81,845,609 shares were traded during trading, an increase of 768% from the average session volume of 9,429,281 shares. The stock had previously closed at GBX 21.40 ($0.29).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Canaccord Genuity Group upped their price objective 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. Shore Capital reaffirmed a "buy" rating on shares of Tullow Oil in a research note on Wednesday, June 4th.

Tullow Oil Price Performance

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's 50 day moving average price is GBX 14.90 and its 200 day moving average price is GBX 17.14. The firm has a market capitalization of £334.80 million, a P/E ratio of 21.39, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity

In other Tullow Oil 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 acquired at an average cost of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,240.99). Insiders have purchased 400,000 shares of company stock valued at $5,900,000 over the last three months. 24.59% of the stock is owned by insiders.

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.