Canaccord Genuity Group Cuts Tullow Oil (LON:TLW) Price Target to GBX 35

Tullow Oil (LON:TLW) had its price target decreased by Canaccord Genuity Group from GBX 41 ($0.50) to GBX 35 ($0.43) in a report issued on Friday, MarketBeat.com reports. Canaccord Genuity Group currently has a speculative buy rating on the stock.

Tullow Oil Trading Down 5.3 %

Shares of Tullow Oil stock opened at GBX 18 ($0.22) on Friday. The firm has a fifty day moving average price of GBX 21.79 and a 200 day moving average price of GBX 24.18. Tullow Oil has a 1 year low of GBX 18 ($0.22) and a 1 year high of GBX 40.32 ($0.50). The company has a debt-to-equity ratio of 457.18, a current ratio of 0.70 and a quick ratio of 0.63. The stock has a market cap of £262.80 million, a PE ratio of -450.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

Insider Transactions at Tullow Oil

In related news, insider Roald Goethe acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average price of GBX 20 ($0.25) per share, with a total value of £20,000 ($24,573.04). Corporate 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.