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

Tullow Oil plc (LON:TLW)’s stock price dropped 32.1% during mid-day 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.

Wall Street Analysts Forecast Growth

TLW has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Stock Down 32.1%

The firm has a market cap of £84.88 million, a price-to-earnings ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08. The business has a fifty day simple moving average of GBX 9.87 and a 200 day simple moving average of GBX 12.70. 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.

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.