Tullow Oil (LON:TLW) Stock Price Down 10.4% – Here’s Why

Shares of Tullow Oil plc (LON:TLW) dropped 10.4% during mid-day trading on Monday . The stock traded as low as GBX 6.44 and last traded at GBX 7.27. Approximately 17,184,355 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 10,838,110 shares. The stock had previously closed at GBX 8.11.

Wall Street Analysts Forecast Growth

TLW has been the topic of several analyst reports. Panmure Gordon dropped 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. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31. The stock has a 50-day moving average price of GBX 6.34 and a 200 day moving average price of GBX 9.31. The stock has a market capitalization of £107.22 million, a price-to-earnings ratio of -0.52, a PEG ratio of -0.19 and a beta of 2.08.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

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