Tullow Oil (LON:TLW) Trading Down 20.9% on Analyst Downgrade

Tullow Oil plc (LON:TLW) shares traded down 20.9% on Tuesday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.03 and last traded at GBX 4.58. 48,038,133 shares changed hands during mid-day trading, an increase of 372% from the average session volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

A number of other equities analysts also recently commented on the company. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group cut their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group lowered their price target 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. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tullow Oil presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The company has a market cap of £70.32 million, a price-to-earnings ratio of -0.34, a PEG ratio of -0.19 and a beta of 2.08. The stock’s 50-day simple moving average is GBX 9.50 and its 200 day simple moving average is GBX 12.51.

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.