Tullow Oil (LON:TLW) Sets New 1-Year Low Following Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price reached a new 52-week low on Friday after Canaccord Genuity Group lowered their price target on the stock from GBX 41 to GBX 35. Canaccord Genuity Group currently has a speculative buy rating on the stock. Tullow Oil traded as low as GBX 18 ($0.22) and last traded at GBX 18 ($0.22), with a volume of 10692599 shares traded. The stock had previously closed at GBX 19.01 ($0.24).

Insiders Place Their Bets

In other Tullow Oil news, insider Roald Goethe bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average cost of GBX 20 ($0.25) per share, for a total transaction of £20,000 ($24,838.55). Corporate insiders own 24.59% of the company’s stock.

Tullow Oil Trading Down 5.3 %

The stock has a market cap of £262.80 million, a P/E ratio of -450.33, a PEG ratio of -0.19 and a beta of 2.08. The business’s 50 day simple moving average is GBX 21.89 and its 200 day simple moving average is GBX 24.28. The company has a debt-to-equity ratio of 457.18, a current ratio of 0.70 and a quick ratio of 0.63.

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.