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

Shares of Tullow Oil plc (LON:TLW) dropped 32.1% during trading on Saturday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares traded hands during 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 have recently issued reports on TLW shares. Jefferies Financial Group lowered 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 note on Monday, October 20th. Canaccord Genuity Group reduced their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Finally, Shore Capital restated 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 15.33.

Tullow Oil Stock Performance

The firm has a market capitalization 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 50-day moving average price is GBX 9.87 and its two-hundred day moving average price is GBX 12.70. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

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.