Tullow Oil (LON:TLW) Shares Down 32.1% – Time to Sell?

Tullow Oil plc (LON:TLW)’s share price fell 32.1% during mid-day trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares were traded during trading, an increase of 4,850% from the average session volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

TLW has been the subject of a number of analyst reports. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Canaccord Genuity Group dropped their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research report on Thursday, August 7th. Finally, Jefferies Financial Group reduced their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Price Performance

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. The stock’s 50-day moving average price is GBX 9.96 and its 200-day moving average price is GBX 12.75. The company has a market capitalization of £84.88 million, a price-to-earnings ratio of -0.41, a price-to-earnings-growth 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.