Tullow Oil (LON:TLW) Stock Price Down 20.9% Following Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price fell 20.9% during trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.03 and last traded at GBX 4.58. 48,038,133 shares were traded during mid-day trading, an increase of 372% from the average session volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Other research analysts have also issued research reports about the stock. Canaccord Genuity Group cut their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group dropped their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Finally, Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The firm has a market capitalization of £67.16 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock’s fifty day moving average is GBX 9.75 and its two-hundred day moving average is GBX 12.63.

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.