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

Shares of Tullow Oil plc (LON:TLW) were down 15.6% during mid-day 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. Approximately 224,329,047 shares traded hands during trading, an increase of 1,948% from the average daily volume of 10,952,592 shares. The stock had previously closed at GBX 5.79.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced 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. Jefferies Financial Group lowered their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tullow Oil has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The company has a market capitalization of £66.51 million, a price-to-earnings ratio of -0.32, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The stock has a 50-day simple moving average of GBX 9.62 and a 200-day simple moving average of GBX 12.56.

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.