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

Tullow Oil plc (LON:TLW)’s share price fell 32.1% during trading on Saturday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. 495,658,688 shares changed hands during mid-day 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 Analyst Weigh In

A number of brokerages recently commented on TLW. Canaccord Genuity Group lowered their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Jefferies Financial Group dropped 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Price Performance

The company has a market capitalization of £84.88 million, a price-to-earnings ratio of -0.41, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a fifty day simple moving average of GBX 9.87 and a two-hundred day simple moving average of GBX 12.70. 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.

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.