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

Tullow Oil plc (LON:TLW – Get Free Report) shares 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 traded hands during trading, an increase of 7% from the average daily volume of 19,907,480 shares. The stock had previously closed at GBX 15.54.

Analyst Upgrades and Downgrades

TLW has been the subject of several research analyst reports. Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research report on Tuesday, April 28th. Canaccord Genuity Group upped their price target on shares of Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of GBX 13.85.

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Tullow Oil Trading Down 14.4%

The company’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 current ratio of 0.52 and a quick ratio of 0.63. The stock has a market capitalization of £201.50 million, a PE ratio of 33.25, a P/E/G ratio of -0.19 and a beta of 0.44.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Richard Miller purchased 115,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of GBX 17 per share, with a total value of £19,550. Corporate insiders own 2.91% of the company’s stock.

About Tullow Oil

(Get Free Report)

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.

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