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

Tullow Oil plc (LON:TLW)’s stock price was down 32.1% on Friday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares traded hands during 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 Analyst Weigh In

TLW has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price 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 decreased their price objective 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. Finally, Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tullow Oil presently has a consensus rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The firm 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 business’s 50 day simple moving average is GBX 9.87 and its two-hundred day simple moving average is GBX 12.70.

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.