Tullow Oil (LON:TLW) Shares Down 12.1% - Here's Why

Tullow Oil plc (LON:TLW - Get Free Report)'s share price fell 12.1% on Friday . The stock traded as low as GBX 14 ($0.18) and last traded at GBX 14.22 ($0.18). 7,256,078 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 10,391,667 shares. The stock had previously closed at GBX 16.18 ($0.21).

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TLW. Canaccord Genuity Group cut their price objective on shares of Tullow Oil from GBX 35 ($0.45) to GBX 25 ($0.32) and set a "speculative buy" rating for the company in a report on Thursday, February 20th. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research note on Tuesday, April 1st.

Tullow Oil Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The stock has a market capitalization of £221.96 million, a price-to-earnings ratio of 14.18, a P/E/G ratio of -0.19 and a beta of 2.08. The business's 50 day simple moving average is GBX 15.92 and its 200-day simple moving average is GBX 20.30.

Insider Buying and Selling

In other Tullow Oil news, insider Roald Goethe bought 150,000 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of GBX 14 ($0.18) per share, for a total transaction of £21,000 ($26,833.63). 24.59% of the stock is currently owned by company insiders.

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.