Tullow Oil (LON:TLW) was downgraded by equities research analysts at Canaccord Genuity to a “speculative buy” rating in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 260 ($3.40) price objective on the stock, down from their previous price objective of GBX 275 ($3.59). Canaccord Genuity’s price objective suggests a potential upside of 41.23% from the stock’s previous close.
Several other research firms have also issued reports on TLW. HSBC initiated coverage on shares of Tullow Oil in a research note on Tuesday, May 28th. They set a “hold” rating and a GBX 220 ($2.87) target price on the stock. Barclays reaffirmed an “overweight” rating and issued a GBX 290 ($3.79) price target on shares of Tullow Oil in a research note on Thursday, July 25th. UBS Group reaffirmed a “neutral” rating on shares of Tullow Oil in a research note on Thursday, July 25th. Morgan Stanley lowered shares of Tullow Oil to an “equal weight” rating and decreased their price target for the company from GBX 276 ($3.61) to GBX 252 ($3.29) in a research note on Tuesday, June 11th. Finally, Goldman Sachs Group raised their price target on shares of Tullow Oil from GBX 260 ($3.40) to GBX 337 ($4.40) and gave the company a “conviction-buy” rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 261.09 ($3.41).
TLW stock opened at GBX 184.10 ($2.41) on Wednesday. The stock’s 50-day moving average price is GBX 205.07. The company has a debt-to-equity ratio of 170.48, a quick ratio of 0.85 and a current ratio of 1.70. Tullow Oil has a 52-week low of GBX 163.30 ($2.13) and a 52-week high of GBX 273.90 ($3.58). The stock has a market cap of $2.56 billion and a price-to-earnings ratio of 19.80.
Tullow Oil plc engages in the oil and gas exploration, development, and production activities primarily in Africa and South America. Its portfolio comprises 87 licenses covering 267,649 square kilometers in 17 countries. The company was founded in 1985 and is headquartered in London, the United Kingdom.
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