Tullow Oil (LON:TLW) Trading Down 12.1% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price fell 12.1% during mid-day trading on Friday . The company traded as low as GBX 14 ($0.18) and last traded at GBX 14.22 ($0.18). 7,256,078 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 10,391,667 shares. The stock had previously closed at GBX 16.18 ($0.21).

Analysts Set New Price Targets

TLW has been the subject of several analyst reports. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Tuesday, April 1st. Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a research note on Thursday, February 20th.

Tullow Oil Stock Performance

The firm has a 50 day moving average of GBX 16.32 and a two-hundred day moving average of GBX 20.53. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The stock has a market cap of £272.20 million, a PE ratio of 17.39, a PEG ratio of -0.19 and a beta of 2.08.

Insider Transactions at Tullow Oil

In related news, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of GBX 17 ($0.22) per share, for a total transaction of £17,000 ($21,921.34). 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.