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

Tullow Oil plc (LON:TLW)’s stock price dropped 14.4% on Monday . The stock traded as low as GBX 13.30 and last traded at GBX 13.30. Approximately 21,267,988 shares changed 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

A number of equities analysts have commented on TLW shares. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group increased their price target on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of GBX 13.85.

Tullow Oil Stock Performance

The firm’s 50 day moving average price is GBX 14.53 and its two-hundred day moving average price is GBX 10.66. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The firm has a market cap of £201.50 million, a PE ratio of 33.25, a PEG ratio of -0.19 and a beta of 0.44.

Insider Activity

In related news, insider Richard Miller purchased 115,000 shares of Tullow Oil stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of GBX 17 per share, with a total value of £19,550. Company 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.