Tullow Oil (LON:TLW) was downgraded by analysts at Barclays to an “equal weight” rating in a report issued on Thursday. They currently have a GBX 190 ($2.63) price target on the stock, down from their prior price target of GBX 210 ($2.90). Barclays’ price target points to a potential upside of 8.20% from the company’s previous close.
A number of other equities analysts also recently issued reports on TLW. Credit Suisse Group reiterated an “outperform” rating and set a GBX 205 ($2.83) price target on shares of Tullow Oil in a research note on Friday, November 3rd. JPMorgan Chase & Co. lifted their price target on Tullow Oil from GBX 245 ($3.38) to GBX 255 ($3.52) and gave the company an “overweight” rating in a research note on Thursday, January 11th. Jefferies Group upgraded Tullow Oil to a “hold” rating and lifted their price target for the company from GBX 175 ($2.42) to GBX 180 ($2.49) in a research note on Wednesday, December 20th. Whitman Howard reiterated a “buy” rating on shares of Tullow Oil in a research note on Friday, November 17th. Finally, Deutsche Bank reiterated a “buy” rating and set a GBX 210 ($2.90) price target on shares of Tullow Oil in a research note on Monday, October 23rd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Tullow Oil presently has an average rating of “Hold” and a consensus price target of GBX 227.26 ($3.14).
Shares of Tullow Oil (LON:TLW) opened at GBX 175.60 ($2.43) on Thursday. Tullow Oil has a 12-month low of GBX 142.30 ($1.97) and a 12-month high of GBX 243 ($3.36). The company has a market capitalization of $2,420.00 and a PE ratio of -1,463.33.
In other news, insider Aidan Heavey sold 197,059 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of GBX 192 ($2.65), for a total value of £378,353.28 ($522,731.80).
About Tullow Oil
Tullow Oil plc is an independent oil and gas exploration and production company. The Company’s primary activity is the discovery and production of oil and gas. Its segments include West Africa; East Africa, and New Ventures. The West Africa Business focuses on its production and development projects in West Africa and Europe.