Tullow Oil (LON:TLW) Shares Down 9.4% – Time to Sell?

Tullow Oil plc (LON:TLW) fell 9.4% during trading on Wednesday. The company traded as low as GBX 10.50 and last traded at GBX 10.74. 16,978,717 shares traded hands during trading, a decline of 14% from the average session volume of 19,638,338 shares. The stock had previously closed at GBX 11.86.

Wall Street Analyst Weigh In

Several research analysts have commented on TLW shares. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 7 price objective on shares of Tullow Oil in a research note on Thursday, October 1st. Canaccord Genuity Group increased their price target on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research report on Friday, August 14th. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 24 price objective on shares of Tullow Oil in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The company has a debt-to-equity ratio of -543.66, a current ratio of 0.97 and a quick ratio of 0.63. The company has a market capitalization of £162.71 million, a PE ratio of -4.88, a price-to-earnings-growth ratio of -0.19 and a beta of 0.55. The firm’s fifty day simple moving average is GBX 17.61 and its 200 day simple moving average is GBX 15.25.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

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