Tullow Oil (LON:TLW) Trading Down 7.8% – Time to Sell?

Tullow Oil plc (LON:TLW) shares traded down 7.8% during trading on Monday . The company traded as low as GBX 5.65 and last traded at GBX 5.65. 13,464,423 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 10,798,421 shares. The stock had previously closed at GBX 6.13.

Analysts Set New Price Targets

TLW has been the topic of several recent research reports. Jefferies Financial Group cut their price objective on Tullow Oil from GBX 12 to GBX 6 and set an “underperform” rating on the stock in a report on Monday, October 20th. Shore Capital reissued a “buy” rating on shares of Tullow Oil in a research note on Friday, September 5th. Finally, Panmure Gordon lowered their price objective on Tullow Oil from GBX 7.80 to GBX 5.40 and set a “sell” rating for the company in a research note on Monday, November 24th. One investment 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. Based on data from MarketBeat, Tullow Oil has an average rating of “Reduce” and an average target price of GBX 12.85.

Tullow Oil Stock Performance

The firm has a market capitalization of £83.34 million, a P/E ratio of -0.40, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. The company has a 50-day moving average of GBX 8.40 and a 200-day moving average of GBX 11.81. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of -1,776.31.

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.