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

Tullow Oil plc (LON:TLW)’s stock price traded down 32.1% on Friday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares changed hands during trading, an increase of 4,850% from the average session volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TLW shares. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group cut their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Finally, Jefferies Financial Group decreased their target price 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. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Stock Performance

The firm has a market capitalization of £84.88 million, a P/E ratio of -0.41, a P/E/G 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 firm has a 50-day moving average price of GBX 9.87 and a two-hundred day moving average price of GBX 12.70.

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.