Tullow Oil (LON:TLW) Trading Down 32.1% – Time to Sell?

Shares of Tullow Oil plc (LON:TLW) dropped 32.1% on Saturday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares were traded during mid-day 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 Analyst Weigh In

Several equities research analysts recently commented on the company. Canaccord Genuity Group decreased 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. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Jefferies Financial Group lowered their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Stock Performance

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 company has a fifty day moving average price of GBX 9.87 and a 200 day moving average price of GBX 12.70. The stock has a market cap of £84.88 million, a P/E ratio of -0.41, a P/E/G ratio of -0.19 and a beta of 2.08.

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.