Tullow Oil (LON:TLW) Trading Down 20.9% on Analyst Downgrade

Shares of Tullow Oil plc (LON:TLW) were down 20.9% during mid-day trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.03 and last traded at GBX 4.58. Approximately 48,038,133 shares were traded during mid-day trading, an increase of 372% from the average daily volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Several other research firms have also recently issued reports on TLW. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Jefferies Financial Group lowered 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. Finally, Canaccord Genuity Group cut their price target on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tullow Oil currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Down 20.9%

The stock has a market capitalization of £67.16 million, a price-to-earnings ratio of -0.33, a PEG ratio of -0.19 and a beta of 2.08. The company’s 50-day moving average is GBX 9.75 and its 200-day moving average is GBX 12.63. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

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.