Tullow Oil (LON:TLW) Stock Price Down 10.2% Following Analyst Downgrade

Shares of Tullow Oil plc (LON:TLW) were down 10.2% during trading 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 8.30 ($0.11). Approximately 30,649,705 shares were traded during trading, an increase of 280% from the average daily volume of 8,058,573 shares. The stock had previously closed at GBX 9.24 ($0.12).

TLW has been the topic of several other research reports. Canaccord Genuity Group dropped their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 15.33.

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 shares were purchased at an average cost of GBX 12 per share, with a total value of £240,000. Corporate insiders own 1.34% of the company’s stock.

Tullow Oil Trading Down 10.2%

The company’s 50 day moving average price is GBX 10.61 and its two-hundred day moving average price is GBX 13.35. 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 stock has a market capitalization of £121.60 million, a PE ratio of -0.59, a P/E/G 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.