Tullow Oil (LON:TLW) Shares Down 7.8% – Time to Sell?

Shares of Tullow Oil plc (LON:TLW) were down 7.8% during trading on Monday . The company traded as low as GBX 5.65 and last traded at GBX 5.65. Approximately 13,464,423 shares were traded during trading, an increase of 25% from the average daily volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Wall Street Analysts Forecast Growth

TLW has been the topic of several analyst reports. Jefferies Financial Group dropped 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 report on Monday, October 20th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Panmure Gordon cut their target price on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Tullow Oil currently has an average rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Trading Down 7.8%

The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of £83.34 million, a price-to-earnings ratio of -0.40, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company’s 50 day simple moving average is GBX 8.40 and its two-hundred day simple moving average is GBX 11.81.

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.