Tullow Oil (LON:TLW) Shares Down 6% – What’s Next?

Tullow Oil plc (LON:TLW) shares traded down 6% on Monday . The stock traded as low as GBX 13.28 and last traded at GBX 13.46. Approximately 10,601,402 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 18,377,045 shares. The stock had previously closed at GBX 14.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TLW shares. 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 report on Wednesday, April 29th. Shore Capital Group reaffirmed a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of GBX 13.85.

Tullow Oil Stock Performance

The stock has a market capitalization of £203.92 million, a price-to-earnings ratio of 33.65, a PEG ratio of -0.19 and a beta of 0.47. The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The company’s 50-day simple moving average is GBX 14.19 and its 200-day simple moving average is GBX 12.14.

Insider Transactions at Tullow Oil

In related news, insider Garrett Soden acquired 426,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were bought at an average cost of GBX 15 per share, with a total value of £63,900. Also, insider Richard Miller purchased 115,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of GBX 17 per share, for a total transaction of £19,550. 3.00% of the stock is owned by company insiders.

Tullow Oil Company Profile

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.