Tullow Oil (LON:TLW) Trading Down 24.6% on Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price dropped 24.6% 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 4.30 and last traded at GBX 4.37. Approximately 237,958,188 shares were traded during mid-day trading, an increase of 2,061% from the average daily volume of 11,012,369 shares. The stock had previously closed at GBX 5.79.

Several other analysts have also recently issued reports on TLW. 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 report on Thursday, August 7th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Jefferies Financial Group cut their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

The firm has a market capitalization of £63.07 million, a PE ratio of -0.31, a P/E/G ratio of -0.19 and a beta of 2.08. The business has a 50-day simple moving average of GBX 9.87 and a 200-day simple moving average of GBX 12.69. 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.

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.