Tullow Oil (LON:TLW) Stock Price Down 20.9% on Analyst Downgrade

Tullow Oil plc (LON:TLW)’s share price 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 were traded during 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 research firms have also recently weighed in on TLW. Jefferies Financial Group dropped their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. Canaccord Genuity Group decreased their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Finally, Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Price Performance

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. The stock has a market capitalization of £67.16 million, a P/E ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business’s 50 day simple moving average is GBX 9.87 and its two-hundred day simple moving average is GBX 12.69.

About Tullow Oil

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.