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

Tullow Oil plc (LON:TLW) shares were down 20.9% during mid-day trading on Tuesday 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. Approximately 48,038,133 shares were traded during trading, an increase of 372% from the average daily volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Other equities research analysts have also recently issued research reports about the company. Shore Capital reaffirmed a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Canaccord Genuity Group decreased their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a report on Thursday, August 7th. Finally, Jefferies Financial Group lowered their target price 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. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Tullow Oil currently has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Up 23.1%

The firm has a 50 day moving average of GBX 9.50 and a 200-day moving average of GBX 12.51. 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 has a market capitalization of £70.32 million, a P/E ratio of -0.34, 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.