Tullow Oil (LON:TLW) Downgraded by Barclays

Cornelia Mascio
Marzo 13, 2018

They presently have a GBX 190 ($2.63) price objective on the stock, down from their prior price objective of GBX 210 ($2.90). JPMorgan Chase & Co. upped 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 report on Thursday, January 11th. Finally, Deutsche Bank upped their price target on Tullow Oil from GBX 210 ($2.90) to GBX 225 ($3.11) and gave the stock a "buy" rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. Jefferies Group upgraded shares of Tullow Oil to a "hold" rating and lifted their price target for the stock from GBX 175 ($2.42) to GBX 180 ($2.49) in a report on Wednesday, December 20th. The stock was sold at an average price of GBX 192 ($2.65), for a total transaction of £378,353.28 ($522,731.80). Also, insider Angus McCoss sold 32,198 shares of the firm's stock in a transaction dated Monday, February 26th.

Shares of Tullow Oil (TLW) traded down GBX 6.15 ($0.08) during trading hours on Friday, hitting GBX 176.20 ($2.43). 808 shares of the stock were exchanged, compared to its average volume of 17,342. The shares were sold at an average price of GBX 190 ($2.63), for a total transaction of £61,176.20 ($84,520.86). The firm has a market capitalization of $2,440.00 and a price-to-earnings ratio of -1,468.33.

The oil and gas explorer's net debt fell by over $1.3 billion a year ago to $3.5 billion with the help of $790 million raised through the sale of stock in a rights issue offering to shareholders last April.

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Tullow Oil plc engages in the oil and gas exploration, development, and production activities. Its segments include West Africa; East Africa, and New Ventures.

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