Tullow Oil (LON:TLW) Shares Down 32.1% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price traded down 32.1% during mid-day trading on Saturday . 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group reduced their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group lowered their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Stock Down 32.1%

The stock has a 50 day moving average price of GBX 9.87 and a 200 day moving average price of GBX 12.70. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The company has a market capitalization of £84.88 million, a P/E ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08.

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.