Tullow Oil (LON:TLW) Reaches New 12-Month Low – Here’s Why

Tullow Oil plc (LON:TLW)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as GBX 11.04 ($0.14) and last traded at GBX 13.68 ($0.17), with a volume of 13634706 shares trading hands. The stock had previously closed at GBX 13.60 ($0.17).

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Tuesday, April 1st. Canaccord Genuity Group reduced their target price 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.

Tullow Oil Stock Down 12.3 %

The company has a 50-day moving average of GBX 15.66 and a two-hundred day moving average of GBX 20.19. 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 company has a market capitalization of £221.96 million, a PE ratio of 14.18, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Activity

In other news, insider Roald Goethe acquired 150,000 shares of Tullow Oil stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of GBX 14 ($0.18) per share, with a total value of £21,000 ($26,833.63). Insiders own 24.59% of the company’s stock.

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.