Tullow Oil (LON:TLW) Stock Price Down 32.1% – Time to Sell?

Shares of Tullow Oil plc (LON:TLW) dropped 32.1% on Saturday . 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 Analysts Forecast Growth

Several equities research analysts recently weighed in on TLW shares. Canaccord Genuity Group reduced their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Jefferies Financial Group decreased their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Price Performance

The firm has a market cap 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 stock’s 50-day moving average is GBX 9.87 and its 200-day moving average is GBX 12.70. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

Tullow Oil Company Profile

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.