Tullow Oil (LON:TLW) Sets New 12-Month Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on TLW. Canaccord Genuity Group cut their price objective on shares of Tullow Oil from GBX 35 ($0.44) to GBX 25 ($0.32) and set a “speculative buy” rating for the company in a report on Thursday. Shore Capital reaffirmed a “not rated” rating on shares of Tullow Oil in a report on Tuesday, February 4th.

Tullow Oil Stock Performance

The company’s fifty day simple moving average is GBX 20.46 and its 200 day simple moving average is GBX 22.91. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a market capitalization of £301.87 million, a P/E ratio of 19.28, a P/E/G ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In other news, insider Roald Goethe purchased 100,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was purchased at an average cost of GBX 20 ($0.25) per share, with a total value of £20,000 ($25,268.48). 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.