Tullow Oil (LON:TLW) Hits New 12-Month Low After Analyst Downgrade

Tullow Oil plc (LON:TLW) hit a new 52-week low during trading on Friday after Canaccord Genuity Group lowered their price target on the stock from GBX 41 to GBX 35. Canaccord Genuity Group currently has a speculative buy rating on the stock. Tullow Oil traded as low as GBX 18 ($0.22) and last traded at GBX 18 ($0.22), with a volume of 10692599 shares traded. The stock had previously closed at GBX 19.01 ($0.24).

Insider Activity at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction dated Tuesday, December 24th. The shares were bought at an average cost of GBX 20 ($0.25) per share, with a total value of £20,000 ($24,786.22). 24.59% of the stock is owned by company insiders.

Tullow Oil Price Performance

The company has a debt-to-equity ratio of 457.18, a current ratio of 0.70 and a quick ratio of 0.63. The stock has a market capitalization of £262.80 million, a price-to-earnings ratio of -450.33, a PEG ratio of -0.19 and a beta of 2.08. The business’s fifty day moving average price is GBX 21.89 and its 200-day moving average price is GBX 24.28.

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.