Tullow Oil (LON:TLW) Stock Price Down 10.8% After Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price was down 10.8% during mid-day 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 8.24 ($0.11). Approximately 24,142,725 shares changed hands during trading, an increase of 201% from the average daily volume of 8,026,676 shares. The stock had previously closed at GBX 9.24 ($0.12).

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

Insiders Place Their Bets

In related news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was bought at an average price of GBX 12 per share, with a total value of £240,000. 1.34% of the stock is currently owned by company insiders.

Tullow Oil Trading Down 10.2%

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 company has a market cap 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. The company’s 50 day simple moving average is GBX 10.61 and its two-hundred day simple moving average is GBX 13.35.

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.