Tullow Oil (LON:TLW) Upgraded at Berenberg Bank

Berenberg Bank upgraded shares of Tullow Oil (LON:TLW) to a buy rating in a research note released on Monday, Digital Look reports. They currently have GBX 240 ($3.14) price objective on the stock, up from their prior price objective of GBX 230 ($3.01).

Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity cut Tullow Oil to a speculative buy rating and cut their price target for the company from GBX 275 ($3.59) to GBX 260 ($3.40) in a research note on Wednesday, July 31st. Barclays reiterated 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. Goldman Sachs Group boosted their price target on 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. JPMorgan Chase & Co. cut their price target on Tullow Oil from GBX 292 ($3.82) to GBX 288 ($3.76) and set an overweight rating for the company in a research note on Wednesday, April 17th. Finally, Morgan Stanley downgraded shares of Tullow Oil to an equal weight rating and lowered their price objective for the company from GBX 276 ($3.61) to GBX 252 ($3.29) in a research report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Tullow Oil has an average rating of Buy and an average target price of GBX 261.96 ($3.42).

Shares of TLW stock opened at GBX 196.55 ($2.57) on Monday. The company has a current ratio of 1.70, a quick ratio of 0.85 and a debt-to-equity ratio of 170.48. The stock has a market cap of $2.78 billion and a P/E ratio of 21.13. The stock has a 50 day simple moving average of GBX 199.92 and a 200 day simple moving average of GBX 216.03. Tullow Oil has a 1 year low of GBX 163.30 ($2.13) and a 1 year high of GBX 273.90 ($3.58).

The company also recently disclosed a dividend, which will be paid on Friday, October 4th. Shareholders of record on Thursday, August 29th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a yield of 0.93%. Tullow Oil’s dividend payout ratio is currently 0.43%.

Tullow Oil Company Profile

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.

See Also: What is the Stochastic Momentum Index (SMI)?

Analyst Recommendations for Tullow Oil (LON:TLW)

Receive News & Ratings for Tullow Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tullow Oil and related companies with MarketBeat.com's FREE daily email newsletter.