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

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

Analyst Upgrades and Downgrades

TLW has been the topic of several recent analyst reports. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group reduced their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Finally, Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock 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 one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Trading Down 32.1%

The business’s fifty day moving average price is GBX 9.87 and its 200 day moving average price is GBX 12.70. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The firm has a market capitalization of £84.88 million, a PE ratio of -0.41, a P/E/G 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.