Canaccord Genuity Group Issues Pessimistic Forecast for Tullow Oil (LON:TLW) Stock Price

Tullow Oil (LON:TLW) had its price objective dropped by equities researchers at Canaccord Genuity Group from GBX 35 ($0.44) to GBX 25 ($0.32) in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 53.19% from the company’s previous close.

Separately, Shore Capital reissued a “not rated” rating on shares of Tullow Oil in a report on Tuesday, February 4th.

Tullow Oil Price Performance

Shares of LON TLW opened at GBX 16.32 ($0.21) on Thursday. The stock’s 50-day simple moving average is GBX 20.46 and its 200-day simple moving average is GBX 22.91. The firm has a market capitalization of £301.87 million, a PE ratio of 19.28, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. Tullow Oil has a fifty-two week low of GBX 15.62 ($0.20) and a fifty-two week high of GBX 40.32 ($0.51). The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

Insider Transactions at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was acquired at an average cost of GBX 20 ($0.25) per share, with a total value of £20,000 ($25,268.48). 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.