Tullow Oil (LON:TLW) Shares Down 6.7% – Time to Sell?

Tullow Oil plc (LON:TLW) shares traded down 6.7% on Wednesday . The stock traded as low as GBX 13.90 and last traded at GBX 14.30. Approximately 75,828,180 shares were traded during mid-day trading, an increase of 311% from the average session volume of 18,461,053 shares. The stock had previously closed at GBX 15.32.

Analyst Ratings Changes

Several equities analysts recently issued reports on TLW shares. Shore Capital Group reissued a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Canaccord Genuity Group upped their price objective on shares of Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 24 price objective on shares of Tullow Oil in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Tullow Oil presently has an average rating of “Reduce” and an average target price of GBX 15.88.

Tullow Oil Trading Down 6.7%

The company has a 50-day simple moving average of GBX 13.82 and a 200-day simple moving average of GBX 12.53. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The stock has a market cap of £216.65 million, a P/E ratio of 35.75, a P/E/G ratio of -0.19 and a beta of 0.47.

Insider Buying and Selling at Tullow Oil

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

About Tullow Oil

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.