Tullow Oil (LON:TLW) Trading Down 7.4% – Time to Sell?

Tullow Oil plc (LON:TLW) traded down 7.4% during trading on Thursday . The stock traded as low as GBX 12.78 and last traded at GBX 12.78. Approximately 12,665,458 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 19,191,963 shares. The stock had previously closed at GBX 13.80.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Shore Capital Group reiterated 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Stock Down 7.4%

The company has a debt-to-equity ratio of -892.65, a current ratio of 0.52 and a quick ratio of 0.63. The company has a fifty day moving average price of GBX 14.61 and a 200 day moving average price of GBX 11.49. The company has a market cap of £193.62 million, a PE ratio of 31.95, a price-to-earnings-growth ratio of -0.19 and a beta of 0.47.

Insider Buying and Selling

In related news, insider Richard Miller purchased 115,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased 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 dated Friday, June 12th. The shares were bought at an average price of GBX 15 per share, for a total transaction of £63,900. 3.00% of the stock is owned by 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.