Tullow Oil (LON:TLW) Shares Down 9.3% – Here’s Why

Tullow Oil plc (LON:TLW)’s share price fell 9.3% on Wednesday . The stock traded as low as GBX 12.50 and last traded at GBX 12.60. 29,806,598 shares were traded during trading, an increase of 121% from the average session volume of 13,499,635 shares. The stock had previously closed at GBX 13.88.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Panmure Gordon decreased their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating on the stock in a research note on Monday, November 24th. Canaccord Genuity Group upped their target price on shares of Tullow Oil from GBX 7 to GBX 13 and gave the company a “hold” rating in a report on Wednesday. One research 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, the stock presently has an average rating of “Reduce” and an average price target of GBX 13.60.

Tullow Oil Price Performance

The company has a 50-day moving average of GBX 8.11 and a two-hundred day moving average of GBX 8.70. The company has a debt-to-equity ratio of -750.59, a current ratio of 0.55 and a quick ratio of 0.63. The stock has a market capitalization of £197.95 million, a PE ratio of -0.96, a P/E/G ratio of -0.19 and a beta of 0.66.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow’s operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

For further information, please refer to: www.tullowoil.com.