Canaccord Genuity Group Lowers Tullow Oil (LON:TLW) Price Target to GBX 25

Tullow Oil (LON:TLW) had its target price cut by analysts at Canaccord Genuity Group from GBX 35 ($0.44) to GBX 25 ($0.31) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 53.37% from the stock’s current price.

Separately, Shore Capital reaffirmed a “not rated” rating on shares of Tullow Oil in a research note on Tuesday, February 4th.

Tullow Oil Stock Performance

Tullow Oil stock traded down GBX 0.49 ($0.01) during midday trading on Thursday, reaching GBX 16.30 ($0.21). 5,304,231 shares of the stock traded hands, compared to its average volume of 7,362,681. The firm has a fifty day moving average price of GBX 20.65 and a two-hundred day moving average price of GBX 22.95. Tullow Oil has a fifty-two week low of GBX 16.04 ($0.20) and a fifty-two week high of GBX 40.32 ($0.51). The firm has a market cap of £301.50 million, a price-to-earnings ratio of 19.26, a PEG 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.

Insider Activity at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average price of GBX 20 ($0.25) per share, with a total value of £20,000 ($25,166.73). Company 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.