Tullow Oil plc (TLW) Cut to “Hold” at Jefferies Group LLC
Jefferies Group LLC cut shares of Tullow Oil plc (LON:TLW) to a hold rating in a report released on Tuesday. The firm currently has GBX 155 ($2.00) price objective on the stock, down from their prior price objective of GBX 250 ($3.23).
Several other analysts also recently weighed in on the stock. J P Morgan Chase & Co lowered their price target on shares of Tullow Oil plc from GBX 270 ($3.49) to GBX 245 ($3.17) and set an overweight rating for the company in a research note on Wednesday, May 17th. Barclays PLC reissued an overweight rating and issued a GBX 220 ($2.85) price target on shares of Tullow Oil plc in a research note on Wednesday, June 7th. Numis Securities Ltd raised shares of Tullow Oil plc to a buy rating and set a GBX 210 ($2.72) price target for the company in a research note on Thursday, July 13th. Deutsche Bank AG lowered their price target on shares of Tullow Oil plc from GBX 270 ($3.49) to GBX 260 ($3.36) and set a buy rating for the company in a research note on Thursday, May 18th. Finally, Macquarie reissued an outperform rating and issued a GBX 245 ($3.17) price target on shares of Tullow Oil plc in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of GBX 226.80 ($2.93).
Shares of Tullow Oil plc (LON TLW) opened at 151.80 on Tuesday. The firm’s market capitalization is GBX 1.86 billion. Tullow Oil plc has a 12-month low of GBX 142.30 and a 12-month high of GBX 299.86. The company has a 50-day moving average price of GBX 162.02 and a 200-day moving average price of GBX 189.53.
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In other Tullow Oil plc news, insider Paul McDade acquired 281 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were acquired at an average price of GBX 160 ($2.07) per share, for a total transaction of £449.60 ($581.48).
Tullow Oil plc Company Profile
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.
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