Tullow Oil (LON:TLW) Trading Down 32.2% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s stock price traded down 32.2% during mid-day trading on Friday . The stock traded as low as GBX 5.50 and last traded at GBX 5.78. 245,320,609 shares were traded during trading, an increase of 2,653% from the average session volume of 8,909,780 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Canaccord Genuity Group cut their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Stock Down 32.1%

The firm has a market cap of £84.88 million, a PE ratio of -0.41, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The firm’s 50 day moving average is GBX 9.87 and its 200-day moving average is GBX 12.70.

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.