Canaccord Genuity Group Has Lowered Expectations for Tullow Oil (LON:TLW) Stock Price

Tullow Oil (LON:TLW) had its price target reduced by analysts at Canaccord Genuity Group from GBX 41 ($0.51) to GBX 35 ($0.43) in a research note issued to investors on Friday,Digital Look reports. The firm presently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 84.63% from the stock’s previous close.

Tullow Oil Stock Down 0.3 %

TLW stock opened at GBX 18.96 ($0.24) on Friday. The business’s 50 day moving average price is GBX 21.89 and its two-hundred day moving average price is GBX 24.28. The company has a debt-to-equity ratio of 457.18, a quick ratio of 0.63 and a current ratio of 0.70. The company has a market capitalization of £276.77 million, a price-to-earnings ratio of -450.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. Tullow Oil has a fifty-two week low of GBX 18.07 ($0.22) and a fifty-two week high of GBX 40.32 ($0.50).

Insider Buying and Selling

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of GBX 20 ($0.25) per share, for a total transaction of £20,000 ($24,838.55). 24.59% of the stock is currently owned by 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.