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

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

Analysts Set New Price Targets

Several equities research analysts have commented on TLW shares. Jefferies Financial Group dropped their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Canaccord Genuity Group decreased their price target 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. Finally, Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One research 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. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of GBX 15.33.

Tullow Oil Stock Performance

The company has a market capitalization 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. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The company’s fifty day moving average is GBX 9.96 and its 200 day moving average is GBX 12.75.

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.