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

Tullow Oil plc (LON:TLW) shares were down 32.1% during mid-day trading on Saturday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares traded hands 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 Analysts Forecast Growth

A number of brokerages have commented on TLW. Jefferies Financial Group reduced their price target 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 cut their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tullow Oil has an average rating of “Hold” and a consensus target price of GBX 15.33.

Tullow Oil Stock Down 32.1%

The firm 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. 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 50-day moving average price of GBX 9.87 and a 200 day moving average price of GBX 12.70.

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.