Tullow Oil (LON:TLW) Shares Down 32.1% – What’s Next?

Tullow Oil plc (LON:TLW) shares fell 32.1% during trading on Saturday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares traded hands 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 several research reports. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Jefferies Financial Group reduced their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Finally, Canaccord Genuity Group lowered their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Stock Down 32.1%

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 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. The firm’s 50-day simple moving average is GBX 9.87 and its two-hundred day simple moving average 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.