Tullow Oil (LON:TLW) Stock Price Down 11.7% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s share price traded down 11.7% during mid-day trading on Friday . The company traded as low as GBX 11.06 and last traded at GBX 11.06. Approximately 54,401,289 shares traded hands during trading, an increase of 172% from the average daily volume of 20,008,920 shares. The stock had previously closed at GBX 12.52.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Shore Capital Group reiterated a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Canaccord Genuity Group lifted their price target on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of GBX 13.85.

Tullow Oil Price Performance

The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The business has a 50 day simple moving average of GBX 14.56 and a 200-day simple moving average of GBX 11.11. The firm has a market cap of £167.56 million, a price-to-earnings ratio of 27.65, a P/E/G ratio of -0.19 and a beta of 0.44.

Insider Buying and Selling at Tullow Oil

In related news, insider Garrett Soden purchased 426,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was acquired at an average cost of GBX 15 per share, with a total value of £63,900. Also, insider Richard Miller acquired 115,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought at an average price of GBX 17 per share, for a total transaction of £19,550. Corporate insiders own 2.91% 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. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.