Tullow Oil (LON:TLW) Stock Price Down 15.6% on Analyst Downgrade

Tullow Oil plc (LON:TLW) fell 15.6% during trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.76 and last traded at GBX 4.89. 224,329,047 shares traded hands during mid-day trading, an increase of 1,948% from the average session volume of 10,952,592 shares. The stock had previously closed at GBX 5.79.

Several other equities analysts also recently issued reports on TLW. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note 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 dropped their price target on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The company has a 50-day moving average of GBX 9.62 and a 200-day moving average of GBX 12.56. 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. The stock has a market cap of £67.08 million, a price-to-earnings ratio of -0.33, a PEG 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.