Tullow Oil (TUWLF) Receives Average Recommendation of "Hold" from Brokerages

A number of research firms recently weighed in on TUWLF. Finally, Numis Securities lifted their price target on shares of Tullow Oil from GBX 185 ($2.56) to GBX 215 ($2.97) and gave the stock a "hold" rating in a report on Monday, January 22nd. Jefferies Group upgraded shares of Tullow Oil from an "underperform" rating to a "hold" rating in a research report on Wednesday, December 20th. BNP Paribas restated an "outperform" rating and set a GBX 260 ($3.59) price target on shares of Tullow Oil in a research note on Friday, February 2nd. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The company now has a consensus rating of "Hold" and a consensus price target of GBX 225.31 ($3.11).

Tullow Oil (TUWOY) traded down $0.03 during mid-day trading on Thursday, hitting $1.26. 808 shares of the stock were exchanged, compared to its average volume of 17,342. The firm has a market capitalization of $2,600.00 and a P/E ratio of -1,572.08.

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The oil and gas explorer's net debt fell by over $1.3 billion previous year to $3.5 billion with the help of $790 million raised through the sale of stock in a rights issue offering to shareholders last April. The shares were sold at an average price of GBX 192 ($2.65), for a total value of £378,353.28 ($522,731.80). The shares were sold at an average price of GBX 190 ($2.63), for a total transaction of £61,176.20 ($84,520.86). If you are viewing this news story on another domain, it was illegally stolen and republished in violation of US and global copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/03/12/barclays-lowers-tullow-oil-tuwoy-to-equal-weight.html.

The deal was helped by resolution in September of a maritime border dispute between Ghana and the Ivory Coast which enables Tullow to resume drilling new wells in its key TEN oil field, which went into production in August 2016. The Company's primary activity is the discovery and production of oil and gas. The company operates through West Africa, East Africa, and New Ventures segments. The West Africa Business focuses on its production and development projects in West Africa and Europe.

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