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

Shares of Tullow Oil plc (LON:TLW) fell 32.1% on Saturday . The company 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.

Wall Street Analysts Forecast Growth

TLW has been the subject of several research analyst reports. Canaccord Genuity Group cut their price objective 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 reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Jefferies Financial Group cut their price target 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 investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tullow Oil currently has an average rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Stock Performance

The stock has a 50-day simple moving average of GBX 9.87 and a 200 day simple moving average of GBX 12.70. 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 market capitalization of £84.88 million, a PE 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.