Tullow Oil (LON:TLW) Stock Price Down 7.8% – Here’s What Happened

Tullow Oil plc (LON:TLW) fell 7.8% during mid-day trading on Monday . The stock traded as low as GBX 5.65 and last traded at GBX 5.65. 13,464,423 shares traded hands during trading, an increase of 25% from the average session volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Analyst Ratings Changes

Several research firms have recently weighed in on TLW. Jefferies Financial Group lowered their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. Panmure Gordon reduced their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. Finally, Shore Capital restated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Stock Down 7.8%

The stock’s fifty day simple moving average is GBX 8.29 and its 200-day simple moving average is GBX 11.75. The stock has a market cap of £83.34 million, a P/E ratio of -0.40, 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 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.