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

Tullow Oil plc (LON:TLW)’s stock price was down 20.9% on Tuesday 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. Approximately 48,038,133 shares were traded during trading, an increase of 372% from the average daily volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Other equities research analysts have also issued 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 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 cut their target price 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

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 stock has a fifty day moving average price of GBX 9.75 and a 200-day moving average price of GBX 12.63. The firm has a market cap 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.

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.