Tullow Oil (LON:TLW) Trading Down 9.3% – Time to Sell?

Tullow Oil plc (LON:TLW)’s stock price traded down 9.3% during mid-day trading on Wednesday . The stock traded as low as GBX 12.50 and last traded at GBX 12.60. 29,806,598 shares traded hands during trading, an increase of 121% from the average session volume of 13,499,635 shares. The stock had previously closed at GBX 13.88.

Wall Street Analyst Weigh In

Separately, Panmure Gordon lowered their price target on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of GBX 12.85.

Tullow Oil Stock Performance

The company has a current ratio of 0.55, a quick ratio of 0.63 and a debt-to-equity ratio of -750.59. The firm has a 50-day moving average of GBX 7.85 and a 200-day moving average of GBX 8.65. The stock has a market capitalization of £186.15 million, a price-to-earnings ratio of -0.90, a P/E/G ratio of -0.19 and a beta of 0.56.

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.