Tullow Oil (LON:TLW) Stock Falls 9.4% – What’s Next?

Tullow Oil plc (LON:TLW)’s share price fell 9.4% during trading on Wednesday. The company traded as low as GBX 10.50 and last traded at GBX 10.74. 16,978,717 shares were traded during mid-day trading, a decline of 14% from the average session volume of 19,638,338 shares. The stock had previously closed at GBX 11.86.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TLW shares. Jefferies Financial Group reiterated a “hold” rating and set a GBX 7 price objective on shares of Tullow Oil in a research note on Thursday, October 1st. Peel Hunt reaffirmed a “buy” rating and set a GBX 24 target price on shares of Tullow Oil in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group upped their price target on Tullow Oil from GBX 14 to GBX 15 and gave the company a “hold” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tullow Oil presently has a consensus rating of “Hold” and a consensus price target of GBX 12.85.

Tullow Oil Stock Down 9.4%

The company has a debt-to-equity ratio of -543.66, a current ratio of 0.97 and a quick ratio of 0.63. The business’s 50 day moving average is GBX 17.61 and its 200-day moving average is GBX 15.25. The company has a market cap of £162.71 million, a PE ratio of -4.88, a P/E/G ratio of -0.19 and a beta of 0.55.

About Tullow Oil

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.