Tullow Oil (LON:TLW) Stock Price Down 5.1% – Here’s Why

Tullow Oil plc (LON:TLW)’s share price fell 5.1% during trading on Friday . The stock traded as low as GBX 8.40 and last traded at GBX 8.46. 3,393,839 shares were traded during mid-day trading, a decline of 66% from the average session volume of 10,075,610 shares. The stock had previously closed at GBX 8.91.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TLW. Jefferies Financial Group reduced their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Panmure Gordon cut their price objective on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price Performance

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 £123.61 million, a PE ratio of -0.60, a PEG ratio of -0.19 and a beta of 2.08. The firm has a 50-day moving average of GBX 6.29 and a 200 day moving average of GBX 9.44.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.