Tullow Oil plc (LON:TLW – Get Free Report)’s share price dropped 21% during trading on Thursday . The stock traded as low as GBX 16.14 ($0.22) and last traded at GBX 16.90 ($0.23). Approximately 24,900,646 shares were traded during trading, an increase of 179% from the average daily volume of 8,938,376 shares. The stock had previously closed at GBX 21.40 ($0.29).
Analyst Upgrades and Downgrades
TLW has been the topic of several research analyst reports. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Wednesday, June 4th. Canaccord Genuity Group raised their price objective on Tullow Oil from GBX 14 ($0.19) to GBX 16 ($0.22) and gave the stock a “hold” rating in a research note on Thursday, May 29th.
Read Our Latest Stock Analysis on Tullow Oil
Tullow Oil Price Performance
Insider Buying and Selling
In other news, insider Roald Goethe bought 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was purchased at an average price of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,861.75). In the last quarter, insiders have acquired 400,000 shares of company stock valued at $5,900,000. 24.59% of the stock is owned by company insiders.
Tullow Oil Company Profile
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.
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