Tullow Oil (LON:TLW) Shares Down 20.9% After Analyst Downgrade

Tullow Oil plc (LON:TLW) shares fell 20.9% during mid-day trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.03 and last traded at GBX 4.58. 48,038,133 shares traded hands during mid-day trading, an increase of 372% from the average session volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

A number of other brokerages have also weighed in on TLW. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Jefferies Financial Group cut their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research report on Monday, October 20th. Finally, Canaccord Genuity Group lowered their price target on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Performance

The stock has a market cap of £67.16 million, a price-to-earnings ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company’s 50-day simple moving average is GBX 9.87 and its 200-day simple moving average is GBX 12.69. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

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.