Tullow Oil (LON:TLW) Trading Down 7.4% – Time to Sell?

Tullow Oil plc (LON:TLW)’s share price dropped 7.4% during mid-day trading on Thursday . The company traded as low as GBX 12.78 and last traded at GBX 12.78. 12,665,458 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 19,191,963 shares. The stock had previously closed at GBX 13.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Price Performance

The business has a 50 day moving average of GBX 14.61 and a 200 day moving average of GBX 11.49. The company has a market cap of £193.62 million, a PE ratio of 31.95, a price-to-earnings-growth ratio of -0.19 and a beta of 0.47. The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63.

Insider Buying and Selling at Tullow Oil

In related news, insider Garrett Soden bought 426,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were purchased 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 Tullow Oil stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of GBX 17 per share, for a total transaction of £19,550. 3.00% of the stock is currently owned by corporate insiders.

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.