Tullow Oil (LON:TLW) Shares Down 34.2% – Here’s Why

Tullow Oil plc (LON:TLW)’s stock price was down 34.2% during mid-day trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.61. Approximately 257,812,125 shares were traded during mid-day trading, an increase of 2,776% from the average daily volume of 8,964,809 shares. The stock had previously closed at GBX 8.53.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TLW shares. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group decreased their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Finally, Canaccord Genuity Group cut their price target on shares of 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 analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Price Performance

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 company’s 50-day moving average price is GBX 9.87 and its 200-day moving average price is GBX 12.70. The company has a market cap 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.

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.