Tullow Oil (LON:TLW) Downgraded to Hold at Berenberg Bank

Berenberg Bank downgraded shares of Tullow Oil (LON:TLW) to a hold rating in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has GBX 40 ($0.49) price target on the stock, down from their previous price target of GBX 55 ($0.68).

A number of other equities analysts also recently commented on the company. Peel Hunt restated a buy rating and issued a GBX 40 ($0.49) price objective on shares of Tullow Oil in a report on Tuesday, June 2nd. Peel Hunt restated a buy rating on shares of Tullow Oil in a report on Wednesday. Morgan Stanley cut their price objective on Tullow Oil from GBX 61 ($0.75) to GBX 24 ($0.30) and set an equal weight rating on the stock in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lowered their target price on Tullow Oil from GBX 63 ($0.78) to GBX 26 ($0.32) and set a neutral rating for the company in a research note on Monday, April 6th. Finally, Royal Bank of Canada increased their target price on Tullow Oil from GBX 20 ($0.25) to GBX 25 ($0.31) and gave the company an underperform rating in a research note on Friday, June 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Tullow Oil has a consensus rating of Hold and a consensus price target of GBX 59.43 ($0.73).

LON TLW opened at GBX 25.12 ($0.31) on Thursday. The business’s 50-day moving average price is GBX 31.45 and its 200 day moving average price is GBX 30.87. Tullow Oil has a twelve month low of GBX 0.30 ($0.00) and a twelve month high of GBX 251.31 ($3.09). The company has a market capitalization of $354.42 million and a PE ratio of -0.21. The company has a current ratio of 1.01, a quick ratio of 0.74 and a debt-to-equity ratio of 457.18.

In other Tullow Oil news, insider Les Wood sold 47,711 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of GBX 26 ($0.32), for a total transaction of £12,404.86 ($15,265.64).

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.

Recommended Story: What are the economic characteristics of a bear market?

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.