Tullow Oil (LON:TLW) Shares Down 32.1% – What’s Next?

Tullow Oil plc (LON:TLW) was 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 were traded 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TLW. 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 research report on Monday, October 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Canaccord Genuity Group lowered 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. 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 stock. According to data from MarketBeat.com, Tullow Oil currently has an average rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Trading Down 32.1%

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 firm has a market cap of £84.88 million, a price-to-earnings ratio of -0.41, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s fifty day moving average is GBX 9.96 and its 200-day moving average is GBX 12.75.

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.