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

Tullow Oil plc (LON:TLW)’s share price traded down 20.9% during trading on Monday 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 trading, an increase of 372% from the average session volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group decreased 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 note on Monday, October 20th. Canaccord Genuity Group reduced their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tullow Oil presently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Down 20.9%

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 stock has a market cap of £67.16 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The firm’s 50-day moving average is GBX 9.87 and its 200 day moving average is GBX 12.69.

Tullow Oil Company Profile

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.