Tullow Oil (LON:TLW) Trading Down 20.9% After Analyst Downgrade

Shares of Tullow Oil plc (LON:TLW) were down 20.9% during 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 4.03 and last traded at GBX 4.58. Approximately 48,038,133 shares changed hands during mid-day trading, an increase of 372% from the average daily volume of 10,179,387 shares. The stock had previously closed at GBX 5.79.

Other research analysts have also recently issued research reports about the stock. Shore Capital reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Canaccord Genuity Group decreased their target price on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a report on Thursday, August 7th. Finally, Jefferies Financial Group lowered their target price 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 equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Tullow Oil currently has an average rating of “Reduce” and an average price target of GBX 12.85.

Tullow Oil Stock Performance

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. The firm’s 50-day moving average price is GBX 9.87 and its 200-day moving average price is GBX 12.69. The stock has a market cap of £67.16 million, a P/E ratio of -0.33, 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. 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.