Tullow Oil (LON:TLW) Trading Down 12.2% – Time to Sell?

Shares of Tullow Oil plc (LON:TLW) dropped 12.2% on Tuesday . The stock traded as low as GBX 12.50 and last traded at GBX 12.64. Approximately 101,681,570 shares were traded during mid-day trading, an increase of 469% from the average daily volume of 17,861,684 shares. The stock had previously closed at GBX 14.40.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TLW. Canaccord Genuity Group increased their target price on shares of Tullow Oil from GBX 7 to GBX 13 and gave the stock a “hold” rating in a report on Wednesday, March 4th. Panmure Gordon reduced their price target on shares of Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a report on Monday, November 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Tullow Oil has an average rating of “Reduce” and a consensus target price of GBX 13.60.

Tullow Oil Price Performance

The stock’s 50-day moving average is GBX 8.70 and its 200 day moving average is GBX 8.75. 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 company has a market cap of £197.45 million, a PE ratio of -0.96, a PEG 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.