Tullow Oil (LON:TLW) Shares Down 1.8% – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) fell 1.8% on Thursday . The stock traded as low as GBX 15.32 and last traded at GBX 15.40. 1,508,078 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 20,062,477 shares. The stock had previously closed at GBX 15.68.

Wall Street Analyst Weigh In

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

Tullow Oil Stock Down 1.4%

The firm has a 50 day moving average of GBX 14.14 and a 200 day moving average of GBX 10.28. The firm has a market cap of £228.11 million, a price-to-earnings ratio of 38.66, a PEG ratio of -0.19 and a beta of 0.43. The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65.

Insider Buying and Selling

In other Tullow Oil news, insider Richard Miller bought 115,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of GBX 17 per share, with a total value of £19,550. 1.33% of the stock is 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.