Tullow Oil (LON:TLW) Stock Price Down 18.1% – Here’s What Happened

Tullow Oil plc (LON:TLW) was down 18.1% on Wednesday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 17.52 ($0.24). Approximately 110,524,000 shares were traded during trading, an increase of 1,042% from the average daily volume of 9,676,509 shares. The stock had previously closed at GBX 21.40 ($0.29).

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TLW shares. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Wednesday, June 4th. Canaccord Genuity Group increased their target price on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a “hold” rating in a research report on Thursday, May 29th.

Tullow Oil Price Performance

The company has a 50-day moving average of GBX 14.80 and a two-hundred day moving average of GBX 17.21. The stock has a market capitalization of £337.76 million, a PE ratio of 21.58, a P/E/G ratio of -0.19 and a beta of 2.08. 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.

Insider Buying and Selling

In other Tullow Oil news, insider Roald Goethe purchased 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were purchased at an average price of GBX 14 ($0.19) per share, for a total transaction of £21,000 ($28,279.02). In the last quarter, insiders acquired 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is currently owned by corporate insiders.

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.