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

Tullow Oil plc (LON:TLW) shares fell 7.8% on Monday . The stock traded as low as GBX 5.65 and last traded at GBX 5.65. 13,464,423 shares traded hands during trading, an increase of 25% from the average session volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Analysts Set New Price Targets

Several research firms recently issued reports on TLW. 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 report on Monday, October 20th. Panmure Gordon lowered their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research report on Monday, November 24th. Finally, Shore Capital restated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Down 7.8%

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 stock’s 50-day moving average price is GBX 8.40 and its 200-day moving average price is GBX 11.81. The company has a market cap of £83.34 million, a P/E ratio of -0.40, 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.