Tullow Oil (LON:TLW) Shares Down 10.4% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price was down 10.4% during mid-day trading on Monday . The company traded as low as GBX 6.44 and last traded at GBX 7.27. Approximately 17,184,355 shares were traded during trading, an increase of 59% from the average daily volume of 10,838,110 shares. The stock had previously closed at GBX 8.11.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TLW shares. Jefferies Financial Group lowered their price objective on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Panmure Gordon cut their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Price Performance

The firm’s fifty day moving average price is GBX 6.34 and its 200 day moving average price is GBX 9.31. The firm has a market capitalization of £107.22 million, a PE ratio of -0.52, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.