Tullow Oil (LON:TLW) Shares Down 10.8% on Analyst Downgrade

Tullow Oil plc (LON:TLW)’s stock price traded down 10.8% on Tuesday after Jefferies Financial Group lowered their price target on the stock from GBX 12 to GBX 6. Jefferies Financial Group currently has an underperform rating on the stock. Tullow Oil traded as low as GBX 8 ($0.11) and last traded at GBX 8.24 ($0.11). 24,142,725 shares changed hands during mid-day trading, an increase of 201% from the average session volume of 8,026,676 shares. The stock had previously closed at GBX 9.24 ($0.12).

A number of other equities analysts have also recently weighed in on the stock. Canaccord Genuity Group lowered their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 15.33.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe acquired 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were acquired at an average cost of GBX 12 per share, for a total transaction of £240,000. 1.34% of the stock is owned by corporate insiders.

Tullow Oil Stock Down 10.2%

The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The firm’s 50-day moving average is GBX 10.61 and its 200 day moving average is GBX 13.35. The firm has a market capitalization of £121.60 million, a PE ratio of -0.59, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

Tullow Oil Company Profile

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.