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

Tullow Oil (LON:TLW) had its target price cut by equities researchers at Canaccord Genuity Group from GBX 41 ($0.51) to GBX 35 ($0.43) in a report issued on Friday,Digital Look reports. The brokerage currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 84.63% from the company’s previous close.

Tullow Oil Trading Down 0.3 %

Shares of TLW opened at GBX 18.96 ($0.24) on Friday. Tullow Oil has a fifty-two week low of GBX 18.07 ($0.22) and a fifty-two week high of GBX 40.32 ($0.50). The business has a 50-day moving average of GBX 21.89 and a 200 day moving average of GBX 24.28. The firm has a market cap of £276.77 million, a P/E ratio of -450.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of 457.18, a quick ratio of 0.63 and a current ratio of 0.70.

Insider Buying and Selling

In related news, insider Roald Goethe purchased 100,000 shares of the firm’s stock in a transaction dated 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). 24.59% of the stock is currently owned by company 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.