Tullow Oil (LON:TLW) Shares Down 32.1% – Should You Sell?

by · The Cerbat Gem

Tullow Oil plc (LON:TLW – Get Free Report)’s share price was down 32.1% during trading on Saturday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TLW. Canaccord Genuity Group cut their target price on 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 cut their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Tullow Oil has a consensus rating of “Hold” and an average target price of GBX 15.33.

Read Our Latest Stock Report on Tullow Oil

Tullow Oil Price Performance

The business has a fifty day moving average of GBX 9.87 and a 200-day moving average of GBX 12.70. 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 cap of £84.88 million, a PE ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08.

Tullow Oil Company Profile

(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.

Read More