Tullow Oil (LON:TLW) Trading Down 15.8% Following Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price fell 15.8% 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 4.82 and last traded at GBX 4.88. 213,493,328 shares traded hands during trading, an increase of 1,858% from the average session volume of 10,905,067 shares. The stock had previously closed at GBX 5.79.

Several other brokerages also recently issued reports on TLW. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Canaccord Genuity Group cut their price objective 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. Finally, Jefferies Financial Group reduced their price objective 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. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Trading Up 17.4%

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

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.