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

Shares of Tullow Oil plc (LON:TLW) fell 7.8% during trading on Monday . The company traded as low as GBX 5.65 and last traded at GBX 5.65. 13,464,423 shares changed hands during trading, an increase of 25% from the average session volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Panmure Gordon decreased their target price on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a report on Monday, November 24th. Finally, Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Trading Up 2.2%

The stock has a fifty day simple moving average of GBX 8.19 and a 200 day simple moving average of GBX 11.69. The firm has a market capitalization of £87.76 million, a P/E ratio of -0.43, a PEG ratio of -0.19 and a beta of 2.08. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31.

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.