Tullow Oil (LON:TLW) Shares Down 7.8% – Here’s Why

Tullow Oil plc (LON:TLW)’s share price was down 7.8% on Wednesday . The company traded as low as GBX 16.44 and last traded at GBX 16.64. Approximately 67,948,938 shares traded hands during trading, an increase of 222% from the average daily volume of 21,111,916 shares. The stock had previously closed at GBX 18.04.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Shore Capital Group reiterated a “hold” rating on shares of Tullow Oil in a report on Tuesday, April 28th. Canaccord Genuity Group boosted their price objective on shares of Tullow Oil from GBX 13 to GBX 14 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Tullow Oil currently has a consensus rating of “Reduce” and a consensus target price of GBX 13.85.

Tullow Oil Trading Up 0.8%

The company has a current ratio of 0.52, a quick ratio of 0.63 and a debt-to-equity ratio of -892.65. The business’s 50-day moving average is GBX 12.75 and its two-hundred day moving average is GBX 9.36. The firm has a market cap of £212.99 million, a P/E ratio of 36.10, a P/E/G ratio of -0.19 and a beta of 0.37.

Tullow Oil Company Profile

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.