Tullow Oil plc (TLW) Receives Average Recommendation of “Buy” from Analysts

Shares of Tullow Oil plc (LON:TLW) have been given an average rating of “Buy” by the fifteen brokerages that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is GBX 259.42 ($3.39).

TLW has been the topic of several recent analyst reports. Berenberg Bank initiated coverage on shares of Tullow Oil in a research note on Thursday, November 1st. They issued a “hold” rating and a GBX 240 ($3.14) target price on the stock. Canaccord Genuity reduced their target price on shares of Tullow Oil from GBX 260 ($3.40) to GBX 250 ($3.27) and set a “hold” rating on the stock in a research note on Friday, July 27th. Numis Securities reissued a “hold” rating on shares of Tullow Oil in a research note on Wednesday, July 18th. Barclays reissued an “overweight” rating and issued a GBX 315 ($4.12) target price (up previously from GBX 285 ($3.72)) on shares of Tullow Oil in a research note on Tuesday, September 25th. Finally, Jefferies Financial Group raised shares of Tullow Oil to a “buy” rating and set a GBX 290 ($3.79) target price on the stock in a research note on Monday, October 22nd.

Shares of TLW traded down GBX 3.10 ($0.04) during midday trading on Thursday, hitting GBX 218.30 ($2.85). The stock had a trading volume of 5,038,766 shares, compared to its average volume of 9,450,000. Tullow Oil has a 1 year low of GBX 142.30 ($1.86) and a 1 year high of GBX 243 ($3.18).

In related news, insider Les Wood sold 53,711 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of GBX 234 ($3.06), for a total value of £125,683.74 ($164,228.07).

About Tullow Oil

Tullow Oil plc engages in the oil and gas exploration, development, and production activities. Its portfolio comprises approximately 90 licenses covering 263,820 square kilometers in 16 countries. The company was founded in 1985 and is headquartered in London, the United Kingdom.

See Also: Outstanding Shares

Analyst Recommendations for Tullow Oil (LON:TLW)

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