Tullow Oil (LON:TLW) Stock Price Down 9.4% – Time to Sell?

Tullow Oil plc (LON:TLW)’s share price dropped 9.4% on Wednesday. The stock traded as low as GBX 10.50 and last traded at GBX 10.74. 16,978,717 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 19,638,338 shares. The stock had previously closed at GBX 11.86.

Analyst Ratings Changes

A number of research analysts recently issued reports on TLW shares. Peel Hunt restated a “buy” rating and set a GBX 24 price target on shares of Tullow Oil in a research note on Wednesday, August 5th. Canaccord Genuity Group raised their target price on shares of Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a research report on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 7 target price on shares of Tullow Oil in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tullow Oil presently has a consensus rating of “Hold” and an average target price of GBX 12.85.

Tullow Oil Stock Up 3.8%

The company has a debt-to-equity ratio of -543.66, a current ratio of 0.97 and a quick ratio of 0.63. The firm’s 50 day moving average price is GBX 17.45 and its two-hundred day moving average price is GBX 15.22. The firm has a market cap of £165.74 million, a price-to-earnings ratio of -4.97, a P/E/G ratio of -0.19 and a beta of 0.55.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

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