Tullow Oil (LON:TLW) Shares Down 7.8% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s share price was down 7.8% on Monday . The stock traded as low as GBX 5.65 and last traded at GBX 5.65. Approximately 13,464,423 shares were traded during trading, an increase of 25% from the average daily volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Jefferies Financial Group dropped their price target on 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, Panmure Gordon cut their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Price Performance

The firm’s 50 day simple moving average is GBX 8.29 and its two-hundred day simple moving average is GBX 11.75. The firm has a market capitalization of £83.34 million, a P/E ratio of -0.40, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

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.