Tullow Oil plc (TLW) Upgraded to Overweight by Morgan Stanley
Morgan Stanley upgraded shares of Tullow Oil plc (LON:TLW) to an overweight rating in a research report report published on Thursday. Morgan Stanley currently has GBX 372 ($4.60) target price on the stock, up from their previous target price of GBX 312 ($3.86).
A number of other research analysts have also weighed in on the stock. Barclays PLC reissued an overweight rating and set a GBX 300 ($3.71) target price on shares of Tullow Oil plc in a research report on Friday, June 17th. Deutsche Bank AG reissued a hold rating and set a GBX 270 ($3.34) target price on shares of Tullow Oil plc in a research report on Thursday, July 7th. Numis Securities Ltd raised shares of Tullow Oil plc to a reduce rating and set a GBX 190 ($2.35) target price for the company in a research report on Monday, July 25th. Liberum Capital reissued a sell rating and set a GBX 178 ($2.20) target price on shares of Tullow Oil plc in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. cut their target price on shares of Tullow Oil plc from GBX 290 ($3.59) to GBX 270 ($3.34) and set an overweight rating for the company in a research report on Thursday, July 28th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. Tullow Oil plc presently has an average rating of Hold and a consensus target price of GBX 262.80 ($3.25).
Shares of Tullow Oil plc (LON:TLW) traded up 7.42% during trading on Thursday, reaching GBX 285.10. 6,388,455 shares of the company’s stock were exchanged. The company’s market capitalization is GBX 2.60 billion. The company has a 50 day moving average price of GBX 235.99 and a 200-day moving average price of GBX 231.60. Tullow Oil plc has a 52-week low of GBX 116.26 and a 52-week high of GBX 292.20.
In other news, insider Angus McCoss purchased 173 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were purchased at an average price of GBX 260 ($3.22) per share, for a total transaction of £449.80 ($556.68). Also, insider Heavey,Aidan sold 222,698 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of GBX 227 ($2.81), for a total transaction of £505,524.46 ($625,649.08).
Tullow Oil plc Company Profile
Tullow Oil plc is an independent oil and gas exploration and production company. The Company focuses on finding and monetizing oil in Africa and the Atlantic Margins. The Company operates through segments, including West Africa, East Africa and New Ventures. It has a portfolio of approximately 120 licenses across over 20 countries, which are managed under West Africa Business, East Africa Business and New Ventures Business.
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