Tullow Oil (LON:TLW) Hits New 52-Week Low – Here’s What Happened

Shares of Tullow Oil plc (LON:TLW) reached a new 52-week low on Wednesday . The company traded as low as GBX 16.50 ($0.21) and last traded at GBX 16.79 ($0.21), with a volume of 6271808 shares changing hands. The stock had previously closed at GBX 17.14 ($0.22).

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Shore Capital reissued a “not rated” rating on shares of Tullow Oil in a report on Tuesday, February 4th. Canaccord Genuity Group dropped their price target on shares of Tullow Oil from GBX 41 ($0.52) to GBX 35 ($0.44) and set a “speculative buy” rating on the stock in a research note on Friday, January 31st.

Tullow Oil Stock Performance

The business has a 50-day simple moving average of GBX 20.81 and a 200 day simple moving average of GBX 23.04. 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 firm has a market cap of £310.57 million, a PE ratio of 19.84, a PEG ratio of -0.19 and a beta of 2.08.

Insider Activity at Tullow Oil

In other news, insider Roald Goethe bought 100,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were bought at an average price of GBX 20 ($0.25) per share, for a total transaction of £20,000 ($25,230.23). 24.59% of the stock is currently owned by corporate insiders.

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.