Tullow Oil (LON:TLW) Shares Down 6.7% – Should You Sell?

Tullow Oil plc (LON:TLW) shares fell 6.7% during mid-day trading on Wednesday . The company traded as low as GBX 13.90 and last traded at GBX 14.30. 75,828,180 shares traded hands during mid-day trading, an increase of 311% from the average session volume of 18,461,053 shares. The stock had previously closed at GBX 15.32.

Wall Street Analyst Weigh In

Several research firms have issued reports on TLW. Canaccord Genuity Group raised their target price on Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Peel Hunt restated a “buy” rating and issued a GBX 24 price objective on shares of Tullow Oil in a report on Wednesday. Finally, Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of GBX 15.88.

Tullow Oil Stock Down 0.3%

The firm’s 50 day simple moving average is GBX 13.75 and its 200-day simple moving average is GBX 12.62. The company has a market cap of £211.50 million, a price-to-earnings ratio of 34.90, a P/E/G 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

In other Tullow Oil news, insider Garrett Soden bought 426,000 shares of the stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of GBX 15 per share, for a total transaction of £63,900. Also, insider Richard Miller bought 115,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of GBX 17 per share, for a total transaction of £19,550. 3.00% of the stock is currently owned by insiders.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.