JPMorgan Chase & Co. Cuts Tullow Oil (TLW) Price Target to GBX 288
Tullow Oil (LON:TLW) had its price objective trimmed by JPMorgan Chase & Co. from GBX 292 ($3.82) to GBX 288 ($3.76) in a research report report published on Wednesday, Digital Look reports. The brokerage currently has an overweight rating on the stock.
TLW has been the subject of a number of other reports. Barclays reaffirmed an overweight rating on shares of Tullow Oil in a report on Tuesday. Canaccord Genuity reduced their price objective on shares of Tullow Oil from GBX 290 ($3.79) to GBX 280 ($3.66) and set a buy rating for the company in a research note on Monday, January 21st. UBS Group reissued a neutral rating on shares of Tullow Oil in a research note on Friday, January 11th. Jefferies Financial Group reduced their price objective on shares of Tullow Oil from GBX 250 ($3.27) to GBX 245 ($3.20) and set a hold rating for the company in a research note on Tuesday, April 9th. Finally, Royal Bank of Canada raised shares of Tullow Oil to an outperform rating and reduced their price objective for the stock from GBX 300 ($3.92) to GBX 275 ($3.59) in a research note on Monday, January 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of GBX 258.63 ($3.38).
Shares of TLW stock opened at GBX 243.20 ($3.18) on Wednesday. Tullow Oil has a 12 month low of GBX 163.30 ($2.13) and a 12 month high of GBX 279.30 ($3.65). The company has a market cap of $3.39 billion and a price-to-earnings ratio of 41.22. The company has a debt-to-equity ratio of 160.08, a current ratio of 1.63 and a quick ratio of 0.72.
In related news, insider Angus McCoss sold 8,690 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of GBX 230 ($3.01), for a total transaction of £19,987 ($26,116.56). Also, insider Les Wood sold 75,414 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of GBX 221 ($2.89), for a total transaction of £166,664.94 ($217,777.26).
About Tullow Oil
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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