Tullow Oil (LON:TLW) Stock Price Down 20.9% After Analyst Downgrade

Tullow Oil plc (LON:TLW) fell 20.9% during trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.03 and last traded at GBX 4.58. 48,038,133 shares changed hands during trading, an increase of 372% from the average session volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Several other research firms have also issued reports on TLW. Jefferies Financial Group reduced their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a report on Monday, October 20th. Canaccord Genuity Group reduced their target price on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Shore Capital reiterated 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 assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Trading Down 20.9%

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 stock has a market capitalization of £67.16 million, a PE ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business’s 50-day moving average is GBX 9.87 and its two-hundred day moving average is GBX 12.69.

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.