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

Shares of Tullow Oil plc (LON:TLW) traded down 32.1% during trading on Saturday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares were traded 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

Several brokerages recently weighed in on TLW. Canaccord Genuity Group reduced their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note 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 note on Monday, October 20th. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 15.33.

Tullow Oil Price Performance

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. The firm has a market cap of £84.88 million, a P/E ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08. The business’s fifty day simple moving average is GBX 9.87 and its 200-day simple moving average is GBX 12.70.

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.