Tullow Oil (LON:TLW) Trading Down 11.7% – Here’s Why

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

Wall Street Analyst Weigh In

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

Tullow Oil Trading Down 11.7%

The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63. The company has a market cap of £167.56 million, a PE ratio of 27.65, a price-to-earnings-growth ratio of -0.19 and a beta of 0.44. The company’s 50 day simple moving average is GBX 14.54 and its two-hundred day simple moving average is GBX 11.11.

Insider Activity at Tullow Oil

In other news, insider Garrett Soden bought 426,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average price of GBX 15 per share, with a total value of £63,900. Also, insider Richard Miller purchased 115,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased 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.

Tullow Oil Company Profile

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.