Tullow Oil (LON:TLW) Shares Down 12.6% – Here’s Why

Shares of Tullow Oil plc (LON:TLW) traded down 12.6% during mid-day trading on Monday . The stock traded as low as GBX 6.44 and last traded at GBX 7.09. 14,748,133 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 10,727,373 shares. The stock had previously closed at GBX 8.11.

Analysts Set New Price Targets

Several brokerages have weighed in on TLW. Jefferies Financial Group lowered their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Panmure Gordon dropped their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

The stock’s 50 day moving average price is GBX 6.34 and its two-hundred day moving average price is GBX 9.31. 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 firm has a market capitalization of £104.55 million, a price-to-earnings ratio of -0.51, a PEG 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. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.