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

Tullow Oil plc (LON:TLW)’s stock price was down 7.8% on Monday . The company 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 have recently issued reports on the stock. 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 note on Monday, October 20th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Finally, Panmure Gordon cut their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Trading Down 7.8%

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. The stock’s 50-day moving average is GBX 8.29 and its two-hundred day moving average is GBX 11.75. The company has a market cap 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.

About Tullow Oil

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.