Morgan Stanley Upgrades Tullow Oil plc (TLW) to Overweight
Tullow Oil plc (LON:TLW) was upgraded by stock analysts at Morgan Stanley to an “overweight” rating in a note issued to investors on Thursday. The brokerage presently has a GBX 372 ($4.60) price objective on the stock, up from their prior price objective of GBX 312 ($3.86). Morgan Stanley’s price objective would suggest a potential upside of 32.21% from the stock’s current price.
A number of other equities research analysts also recently weighed in on TLW. Barclays PLC reaffirmed an “overweight” rating and set a GBX 300 ($3.71) price objective on shares of Tullow Oil plc in a research report on Friday, June 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 290 ($3.59) price objective on shares of Tullow Oil plc in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. raised their price objective on Tullow Oil plc from GBX 274.30 ($3.39) to GBX 276.80 ($3.43) and gave the company a “neutral” rating in a research report on Tuesday, June 28th. Deutsche Bank AG reaffirmed a “hold” rating and set a GBX 270 ($3.34) price objective on shares of Tullow Oil plc in a research report on Wednesday, June 29th. Finally, Liberum Capital downgraded Tullow Oil plc to a “sell” rating and raised their price objective for the company from GBX 170 ($2.10) to GBX 178 ($2.20) in a research report on Wednesday, June 29th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 262.80 ($3.25).
Tullow Oil plc (LON:TLW) opened at 277.10 on Thursday. Tullow Oil plc has a 52 week low of GBX 116.26 and a 52 week high of GBX 292.20. The company’s 50 day moving average price is GBX 237.35 and its 200-day moving average price is GBX 231.95. The company’s market capitalization is GBX 2.53 billion.
In other Tullow Oil plc news, insider Heavey,Aidan sold 222,698 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of GBX 227 ($2.81), for a total transaction of £505,524.46 ($625,649.08). Also, insider Angus McCoss acquired 173 shares of the stock in a transaction on Monday, October 3rd. The shares were bought at an average cost of GBX 260 ($3.22) per share, for a total transaction of £449.80 ($556.68).
Tullow Oil plc Company Profile
Tullow Oil plc is an independent oil and gas exploration and production company. The Company focuses on finding and monetizing oil in Africa and the Atlantic Margins. The Company operates through segments, including West Africa, East Africa and New Ventures. It has a portfolio of approximately 120 licenses across over 20 countries, which are managed under West Africa Business, East Africa Business and New Ventures Business.
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