Tullow Oil (LON:TLW) Trading Down 32.1% – Here’s Why

Tullow Oil plc (LON:TLW) dropped 32.1% during mid-day trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares were traded during trading, an increase of 4,850% from the average daily volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TLW. Jefferies Financial Group decreased their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Canaccord Genuity Group decreased their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. Finally, Shore Capital restated 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tullow Oil presently has an average rating of “Hold” and a consensus price target of GBX 15.33.

Tullow Oil Trading Down 32.1%

The firm’s fifty day simple moving average is GBX 9.96 and its 200 day simple moving average is GBX 12.75. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market capitalization of £84.88 million, a P/E ratio of -0.41, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

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.