Tullow Oil (LON:TLW) Shares Down 32.1% – Should You Sell?

Tullow Oil plc (LON:TLW) dropped 32.1% during trading on Saturday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares changed hands during mid-day 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group lowered their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Finally, Shore Capital reissued 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 assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Price Performance

The company has a market capitalization of £84.88 million, a P/E ratio of -0.41, a price-to-earnings-growth 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. The company’s 50-day moving average price is GBX 9.87 and its two-hundred day moving average price 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.