Tullow Oil (LON:TLW) Trading Down 7.8% - What's Next?

Key Points

• Tullow shares fell 7.8% intraday to as low as GBX 16.44 (last GBX 16.64) on heavy turnover — 67,948,938 shares traded, a 222% increase versus the average session volume, down from yesterday's close of GBX 18.04.
• Analyst sentiment is weak: the consensus rating is "Reduce" with a consensus target price of GBX 13.85; two analysts rate Hold and two rate Sell, while Canaccord recently raised its target from GBX 13 to GBX 14 (Hold).
• The company has a market cap of £239.6m and a PE of 40.6, operates core producing assets in Ghana, and has committed to reaching Net Zero on Scope 1 and 2 emissions by 2030.

Tullow Oil plc (LON:TLW - Get Free Report) traded down 7.8% on Wednesday . The company traded as low as GBX 16.44 and last traded at GBX 16.64. 67,948,938 shares were traded during trading, an increase of 222% from the average session volume of 21,111,916 shares. The stock had previously closed at GBX 18.04.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TLW. Canaccord Genuity Group boosted their target price on Tullow Oil from GBX 13 to GBX 14 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Shore Capital Group reaffirmed a "hold" rating on shares of Tullow Oil in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of GBX 13.85.

Tullow Oil Price Performance

The business has a fifty day simple moving average of GBX 12.54 and a two-hundred day simple moving average of GBX 9.29. 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 stock has a market cap of £239.60 million, a PE ratio of 40.61, 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.

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