Tullow Oil (LON:TLW) Stock Price Down 7.6% After Analyst Downgrade

Tullow Oil plc (LON:TLW) fell 7.6% during mid-day trading on Monday after Shore Capital lowered their price target on the stock from GBX 45 to GBX 30. Shore Capital currently has a buy rating on the stock. Tullow Oil traded as low as GBX 9.23 ($0.12) and last traded at GBX 9.23 ($0.12). 18,525,377 shares traded hands during trading, an increase of 125% from the average session volume of 8,216,844 shares. The stock had previously closed at GBX 9.99 ($0.13).

TLW has been the subject of several other reports. Canaccord Genuity Group decreased their price target on shares of Tullow Oil from GBX 16 ($0.22) to GBX 10 ($0.14) and set a “hold” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group reaffirmed an “underperform” rating and set a GBX 12 ($0.16) price target on shares of Tullow Oil in a research note on Thursday, August 7th.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 2,000,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($324,017.82). 24.59% of the stock is owned by corporate insiders.

Tullow Oil Stock Up 10.9%

The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The firm’s 50 day moving average is GBX 15.80 and its two-hundred day moving average is GBX 15.33. The firm has a market capitalization of £189.41 million, a P/E ratio of 12.10, a PEG ratio of -0.19 and a beta of 2.08.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company’s operations are focused on its West-African producing assets in Ghana, Gabon and Côte d’Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.