Tullow Oil (LON:TLW) Stock Price Down 29.2% Following Analyst Downgrade

Shares of Tullow Oil plc (LON:TLW) dropped 29.2% during mid-day trading on Monday after Panmure Gordon lowered their price target on the stock from GBX 7.80 to GBX 5.40. Panmure Gordon currently has a sell rating on the stock. Tullow Oil traded as low as GBX 4.10 and last traded at GBX 4.10. Approximately 246,728,047 shares traded hands during trading, an increase of 2,133% from the average daily volume of 11,050,833 shares. The stock had previously closed at GBX 5.79.

TLW has been the topic of a number of other reports. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group dropped their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating for the company in a research note on Thursday, August 7th. Finally, Jefferies Financial Group reduced their target price on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research note on Monday, October 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The company has a market capitalization of £62.12 million, a price-to-earnings ratio of -0.30, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a fifty day simple moving average of GBX 9.87 and a two-hundred day simple moving average of GBX 12.69. The company has a debt-to-equity ratio of -1,776.31, a quick ratio of 0.63 and a current ratio of 0.70.

Tullow Oil Company Profile

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.