Tullow Oil (LON:TLW) Shares Down 7.8% – Here’s Why

Tullow Oil plc (LON:TLW)’s stock price was down 7.8% on Monday . The stock traded as low as GBX 5.65 and last traded at GBX 5.65. Approximately 13,464,423 shares traded hands during trading, an increase of 25% from the average daily volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Panmure Gordon dropped their target price on shares of 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, Jefferies Financial Group decreased their price target on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Tullow Oil presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Trading Up 2.2%

The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63. The stock’s 50-day moving average is GBX 8.19 and its two-hundred day moving average is GBX 11.69. The stock has a market cap of £87.76 million, a P/E ratio of -0.43, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08.

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.