Tullow Oil (LON:TLW) Stock Price Down 8.2% – Here’s What Happened

Tullow Oil plc (LON:TLW) traded down 8.2% during trading on Tuesday. The stock traded as low as GBX 19.16 and last traded at GBX 19.50. Approximately 20,795,311 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 17,488,760 shares. The stock had previously closed at GBX 21.25.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Peel Hunt reaffirmed a “buy” rating and issued a GBX 24 target price on shares of Tullow Oil in a research report on Wednesday, August 5th. Canaccord Genuity Group boosted their price target on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and an average price target of GBX 12.60.

Tullow Oil Price Performance

The stock has a market cap of £295.43 million, a P/E ratio of 48.75, a price-to-earnings-growth ratio of -0.19 and a beta of 0.55. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The firm has a 50-day moving average price of GBX 18.59 and a 200-day moving average price of GBX 15.44.

Tullow Oil Company Profile

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.