Tullow Oil (LON:TLW) Shares Down 32.1% – What’s Next?

Shares of Tullow Oil plc (LON:TLW) fell 32.1% on Friday . The stock traded as low as GBX 5.22 and last traded at GBX 5.79. 495,654,500 shares traded hands during mid-day trading, an increase of 4,850% from the average session volume of 10,012,572 shares. The stock had previously closed at GBX 8.53.

Analysts Set New Price Targets

TLW has been the topic of several analyst reports. Canaccord Genuity Group decreased their target price 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. Jefferies Financial Group decreased 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 report on Monday, October 20th. Finally, Shore Capital reissued 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 one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 15.33.

Tullow Oil Trading Down 32.1%

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. 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 stock’s 50-day simple moving average is GBX 9.96 and its 200-day simple moving average is GBX 12.75.

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.