Tullow Oil (LON:TLW) Shares Down 14.4% – Here’s Why

Tullow Oil plc (LON:TLW)’s stock price dropped 14.4% during mid-day trading on Monday . The company traded as low as GBX 13.30 and last traded at GBX 13.30. Approximately 21,267,988 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 19,907,480 shares. The stock had previously closed at GBX 15.54.

Wall Street Analyst Weigh In

TLW has been the topic of a number of research reports. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group lifted their price objective on Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Tullow Oil has a consensus rating of “Reduce” and an average price target of GBX 13.85.

Tullow Oil Trading Up 2.8%

The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The stock has a 50 day simple moving average of GBX 14.56 and a 200-day simple moving average of GBX 10.85. The firm has a market cap of £201.20 million, a P/E ratio of 33.20, a P/E/G ratio of -0.19 and a beta of 0.44.

Insider Buying and Selling

In related news, insider Richard Miller bought 115,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of GBX 17 per share, for a total transaction of £19,550. Also, insider Garrett Soden bought 426,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was bought at an average price of GBX 15 per share, with a total value of £63,900. Insiders own 2.91% 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. 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.