Jefferies Financial Group Issues Pessimistic Forecast for Tullow Oil (LON:TLW) Stock Price

Key Points

• Jefferies Financial Group has lowered its price target for Tullow Oil (LON:TLW) from GBX 12 to GBX 6, indicating a potential downside of 37.24% from the previous close, and maintains an "underperform" rating.
• Shares of Tullow Oil have decreased by 5.0% and currently have a market capitalization of £140.06 million.
• Insider Roald Goethe purchased 2,000,000 shares at an average cost of GBX 12 on August 6, showing confidence in the company despite recent downward adjustments in price targets.

Tullow Oil (LON:TLW - Get Free Report) had its price objective lowered by equities research analysts at Jefferies Financial Group from GBX 12 to GBX 6 in a research note issued on Monday,Digital Look reports. The firm currently has an "underperform" rating on the stock. Jefferies Financial Group's price objective suggests a potential downside of 37.24% from the company's previous close.

A number of other brokerages have also recently issued reports on TLW. Canaccord Genuity Group reduced their price objective on shares of Tullow Oil from GBX 16 to GBX 10 and set a "hold" rating for the company in a report on Thursday, August 7th. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Tullow Oil presently has an average rating of "Hold" and a consensus price target of GBX 15.33.

Tullow Oil Stock Down 5.0%

Shares of LON TLW opened at GBX 9.56 on Monday. The stock has a market capitalization of £140.06 million, a P/E ratio of -0.68, a P/E/G ratio of -0.19 and a beta of 2.08. The company has a 50-day moving average price of GBX 10.65 and a 200-day moving average price of GBX 13.42. Tullow Oil has a 1 year low of GBX 9.01 and a 1 year high of GBX 27.98. The company has a debt-to-equity ratio of -1,776.31, a current ratio of 0.70 and a quick ratio of 0.63.

Insider Activity at Tullow Oil

In other Tullow Oil news, insider Roald Goethe bought 2,000,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were bought at an average cost of GBX 12 per share, for a total transaction of £240,000. 1.34% of the stock is owned by insiders.

About Tullow Oil

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. The Company's operations are focused on its West-African producing assets in Ghana, Gabon and Côte d'Ivoire, alongside a material discovered resource base in Kenya. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030 and has a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations.

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