Tullow Oil (LON:TLW) Stock Price Down 8.2% – Here’s What Happened

Tullow Oil plc (LON:TLW) fell 8.2% during mid-day trading on Tuesday. The stock traded as low as GBX 19.16 and last traded at GBX 19.50. Approximately 20,795,311 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 17,488,760 shares. The stock had previously closed at GBX 21.25.

Analysts Set New Price Targets

TLW has been the topic of a number of analyst reports. Peel Hunt reaffirmed a “buy” rating and set a GBX 24 price objective on shares of Tullow Oil in a report on Wednesday, August 5th. Jefferies Financial Group restated a “hold” rating and set a GBX 7 price objective on shares of Tullow Oil in a report on Thursday. Finally, Canaccord Genuity Group raised their price target on shares of Tullow Oil from GBX 14 to GBX 15 and gave the stock a “hold” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 12.85.

Tullow Oil Trading Down 0.4%

The company has a quick ratio of 0.63, a current ratio of 0.97 and a debt-to-equity ratio of -543.66. The firm has a market capitalization of £154.84 million, a P/E ratio of 25.55, a price-to-earnings-growth ratio of -0.19 and a beta of 0.55. The firm’s 50-day simple moving average is GBX 18.62 and its 200-day simple moving average is GBX 15.46.

About Tullow Oil

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. The Group is quoted on the London and Ghanaian stock exchanges (symbol: TLW).

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