Tullow Oil (LON:TLW) Shares Down 10.5% – Time to Sell?

Shares of Tullow Oil plc (LON:TLW) fell 10.5% on Friday . The stock traded as low as GBX 6.26 and last traded at GBX 6.46. 20,382,414 shares were traded during mid-day trading, an increase of 88% from the average session volume of 10,860,673 shares. The stock had previously closed at GBX 7.22.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Panmure Gordon reduced their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. Finally, Jefferies Financial Group dropped their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a market cap of £103.40 million, a PE ratio of -0.50, a P/E/G ratio of -0.19 and a beta of 2.08. The business’s 50-day moving average price is GBX 8.83 and its 200-day moving average price is GBX 12.09.

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.