Tullow Oil (LON:TLW) Trading Down 16.3% on Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price fell 16.3% 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 4.75 and last traded at GBX 4.85. 228,638,828 shares changed hands during trading, an increase of 1,984% from the average session volume of 10,971,495 shares. The stock had previously closed at GBX 5.79.

Several other analysts have also issued reports on TLW. 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 objective on shares of 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, Shore Capital reaffirmed 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 two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The business’s 50-day simple moving average is GBX 9.62 and its two-hundred day simple moving average is GBX 12.56. The stock has a market cap of £67.54 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth 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.

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.