Tullow Oil (LON:TLW) Shares Down 12.3% – Here’s What Happened

Tullow Oil plc (LON:TLW)’s share price fell 12.3% during trading on Monday . The company traded as low as GBX 6.44 and last traded at GBX 7.11. 14,865,816 shares were traded during trading, an increase of 39% from the average session volume of 10,732,723 shares. The stock had previously closed at GBX 8.11.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TLW shares. Jefferies Financial Group dropped their price target 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 dropped 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 equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Price Performance

The company’s fifty day simple moving average is GBX 6.34 and its two-hundred day simple moving average is GBX 9.31. The stock has a market capitalization of £104.87 million, a PE ratio of -0.51, 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.

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.