Tullow Oil (LON:TLW) Trading Down 33.8% – Here’s Why

Tullow Oil plc (LON:TLW) fell 33.8% during mid-day trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.65. 249,172,891 shares traded hands during trading, an increase of 2,691% from the average session volume of 8,926,751 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

TLW has been the topic of a number of research reports. Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Jefferies Financial Group reduced their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Trading Down 32.1%

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

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.