Tullow Oil (LON:TLW) Shares Down 20.9% on Analyst Downgrade

Tullow Oil plc (LON:TLW) was down 20.9% 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 were traded during 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 equities research analysts also recently issued research reports about the company. Jefferies Financial Group cut their target price on shares of Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a research report on Monday, October 20th. Shore Capital restated a “buy” rating on shares of Tullow Oil in a report on Friday, September 5th. Finally, Canaccord Genuity Group dropped their price objective on Tullow Oil from GBX 16 to GBX 10 and set a “hold” rating on the stock in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tullow Oil presently has an average rating of “Reduce” and a consensus price target of GBX 12.85.

Tullow Oil Price Performance

The stock has a market capitalization of £67.16 million, a P/E ratio of -0.33, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The business’s 50 day moving average price is GBX 9.75 and its 200 day moving average price is GBX 12.63. 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.

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.