Tullow Oil (LON:TLW) Trading Down 14.5% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) traded down 14.5% on Wednesday . The company traded as low as GBX 12.20 ($0.16) and last traded at GBX 12.25 ($0.16). 13,618,310 shares changed hands during mid-day trading, an increase of 73% from the average session volume of 7,861,061 shares. The stock had previously closed at GBX 14.32 ($0.19).

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Wednesday, July 30th. Canaccord Genuity Group lifted their target price on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.21) and gave the stock a “hold” rating in a report on Thursday, May 29th.

Tullow Oil Stock Down 16.5%

The company has a market cap of £221.22 million, a P/E ratio of 14.13, a PEG ratio of -0.19 and a beta of 2.08. The stock’s 50-day moving average price is GBX 16.21 and its 200-day moving average price is GBX 15.73. 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

In related news, insider Roald Goethe acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were bought at an average price of GBX 17 ($0.23) per share, with a total value of £17,000 ($22,603.38). 24.59% of the stock is 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.