Tullow Oil (LON:TLW) Shares Down 32.1% – Here’s Why

Tullow Oil plc (LON:TLW) shares traded down 32.1% during trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares traded hands during trading, an increase of 4,850% from the average session volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group reduced their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. Finally, Jefferies Financial Group decreased their target price 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. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tullow Oil has an average rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Trading Down 32.1%

The firm has a market cap of £84.88 million, a price-to-earnings ratio of -0.41, a P/E/G ratio of -0.19 and a beta of 2.08. The firm’s 50-day moving average is GBX 9.96 and its 200-day moving average is GBX 12.75. 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.

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.