Tullow Oil (LON:TLW) Trading Down 32.1% – Here’s Why

by · The Cerbat Gem

Shares of Tullow Oil plc (LON:TLW – Get Free Report) were down 32.1% during mid-day trading on Friday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares changed hands during trading, an increase of 4,850% from the average daily volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group dropped their price target 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. Canaccord Genuity Group dropped their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tullow Oil presently has an average rating of “Hold” and a consensus target price of GBX 15.33.

Read Our Latest Report on Tullow Oil

Tullow Oil Price Performance

The stock has a market capitalization of £84.88 million, a P/E ratio of -0.41, 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 current ratio of 0.70 and a quick ratio of 0.63. The company’s 50-day simple moving average is GBX 9.96 and its 200-day simple moving average is GBX 12.75.

About Tullow Oil

(Get Free Report)

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.

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