Tullow Oil (LON:TLW) Shares Down 32.1% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price dropped 32.1% during trading on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares changed hands 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.

Analysts Set New Price Targets

Several equities research analysts recently commented on TLW shares. Canaccord Genuity Group reduced their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Jefferies Financial Group reduced their price target 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. Finally, Shore Capital reissued a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Price Performance

The firm has a 50-day simple moving average of GBX 9.87 and a 200-day simple moving average of GBX 12.70. The firm has a market capitalization of £84.88 million, a PE ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08. 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.