Tullow Oil (LON:TLW) Stock Price Down 32.1% – Time to Sell?

Tullow Oil plc (LON:TLW)’s stock price was down 32.1% during mid-day trading on Saturday . The company traded as low as GBX 5.22 and last traded at GBX 5.79. Approximately 495,658,688 shares traded hands during trading, an increase of 4,850% from the average daily volume of 10,012,591 shares. The stock had previously closed at GBX 8.53.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TLW shares. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research report on Friday, September 5th. Jefferies Financial Group lowered their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating for the company in a research note on Monday, October 20th. Finally, Canaccord Genuity Group cut their price target on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 15.33.

Tullow Oil Stock Performance

The business has a 50-day simple moving average of GBX 9.87 and a 200 day simple moving average of GBX 12.70. The firm has a market cap of £84.88 million, a PE ratio of -0.41, a PEG ratio of -0.19 and a beta of 2.08. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

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.