Shares of Tullow Oil plc (LON:TLW – Get Free Report) were down 11.7% on Friday . The stock traded as low as GBX 11.06 and last traded at GBX 11.06. Approximately 54,401,289 shares traded hands during mid-day trading, an increase of 172% from the average daily volume of 20,008,920 shares. The stock had previously closed at GBX 12.52.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on TLW shares. Shore Capital Group restated a “hold” rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Canaccord Genuity Group lifted 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. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of GBX 13.85.
Check Out Our Latest Report on Tullow Oil
Tullow Oil Trading Down 11.7%
Insider Buying and Selling at Tullow Oil
In other news, insider Richard Miller acquired 115,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of GBX 17 per share, with a total value of £19,550. Also, insider Garrett Soden acquired 426,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was purchased at an average price of GBX 15 per share, for a total transaction of £63,900. 2.91% 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. 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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