Tullow Oil (LON:TLW) Sets New 12-Month Low on Analyst Downgrade

Tullow Oil plc (LON:TLW)’s stock price reached a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at GBX 19.01 ($0.24).

Insider Transactions at Tullow Oil

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of GBX 20 ($0.25) per share, with a total value of £20,000 ($24,838.55). Company insiders own 24.59% of the company’s stock.

Tullow Oil Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 457.18. The stock has a market capitalization of £262.80 million, a P/E ratio of -450.33, a PEG ratio of -0.19 and a beta of 2.08. The company has a fifty day simple moving average of GBX 21.89 and a two-hundred day simple moving average of GBX 24.28.

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.