Tullow Oil plc (TLW) Stock Rating Lowered by Canaccord Genuity
Tullow Oil plc (LON:TLW) was downgraded by investment analysts at Canaccord Genuity to a “sell” rating in a research report issued on Friday. They presently have a GBX 230 ($2.87) target price on the stock, up from their prior target price of GBX 220 ($2.75). Canaccord Genuity’s price target indicates a potential downside of 3.85% from the company’s current price.
Other research analysts have also issued research reports about the company. AlphaValue restated an “add” rating and set a GBX 307 ($3.84) price objective on shares of Tullow Oil plc in a research report on Wednesday, November 9th. Beaufort Securities reaffirmed a “buy” rating on shares of Tullow Oil plc in a research note on Monday, September 26th. Numis Securities Ltd raised Tullow Oil plc to a “hold” rating and lifted their target price for the company from GBX 190 ($2.37) to GBX 200 ($2.50) in a research note on Friday, August 5th. Deutsche Bank AG cut their target price on Tullow Oil plc from GBX 270 ($3.37) to GBX 250 ($3.12) and set a “hold” rating on the stock in a research note on Monday, July 25th. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating and set a GBX 250 ($3.12) target price on shares of Tullow Oil plc in a research note on Thursday, November 10th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. Tullow Oil plc currently has a consensus rating of “Hold” and an average target price of GBX 247.41 ($3.09).
In other Tullow Oil plc news, insider Angus McCoss purchased 173 shares of the stock in a transaction dated Monday, October 3rd. The shares were acquired at an average price of GBX 260 ($3.25) per share, for a total transaction of £449.80 ($561.97). Also, insider Heavey,Aidan sold 222,698 shares of Tullow Oil plc stock in a transaction on Monday, August 22nd. The shares were sold at an average price of GBX 227 ($2.84), for a total value of £505,524.46 ($631,589.78).
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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