Tullow Oil (LON:TLW) Stock Price Down 8.2% – Here’s What Happened

Tullow Oil plc (LON:TLW) shares fell 8.2% on Tuesday. The company traded as low as GBX 19.16 and last traded at GBX 19.50. Approximately 20,795,311 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 17,488,760 shares. The stock had previously closed at GBX 21.25.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TLW. Canaccord Genuity Group raised their target price on shares of Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research note on Friday, August 14th. Peel Hunt reissued a “buy” rating and issued a GBX 24 price target on shares of Tullow Oil in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of GBX 12.60.

Tullow Oil Price Performance

The firm has a fifty day moving average price of GBX 18.59 and a two-hundred day moving average price of GBX 15.44. The company has a quick ratio of 0.63, a current ratio of 0.52 and a debt-to-equity ratio of -892.65. The stock has a market capitalization of £295.43 million, a P/E ratio of 48.75, a P/E/G ratio of -0.19 and a beta of 0.55.

Tullow Oil Company Profile

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.