Shore Capital Group Reiterates "Hold" Rating for Tullow Oil (LON:TLW)

Key Points

• Shore Capital reiterated a "Hold" rating on Tullow Oil while Canaccord raised its price target from GBX 7 to GBX 13 and also assigned a "Hold"; the consensus rating is "Reduce" with an average target of GBX 13.60.
• Tullow shares were up 7.9%, trading at GBX 12.50 on heavy volume (32.38M vs. a 19.42M average), giving a market cap of £184.38M and reflecting a negative P/E and elevated volatility.
• Tullow is an independent energy company focused on producing assets in Ghana and has pledged to reach Net Zero Scope 1 and 2 emissions by 2030 as part of its strategy.

Tullow Oil (LON:TLW - Get Free Report)'s stock had its "hold" rating reaffirmed by investment analysts at Shore Capital Group in a note issued to investors on Tuesday,Digital Look reports.

Separately, Canaccord Genuity Group raised their price target on Tullow Oil from GBX 7 to GBX 13 and gave the stock a "hold" rating in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of GBX 13.60.

Tullow Oil Stock Up 7.9%

LON TLW traded up GBX 0.92 during trading on Tuesday, reaching GBX 12.50. 32,379,461 shares of the company's stock were exchanged, compared to its average volume of 19,415,738. The stock has a market cap of £184.38 million, a P/E ratio of -0.89, a price-to-earnings-growth ratio of -0.19 and a beta of 0.37. The company has a debt-to-equity ratio of -750.59, a quick ratio of 0.63 and a current ratio of 0.55. The company has a 50 day moving average price of GBX 12.10 and a two-hundred day moving average price of GBX 9.16. Tullow Oil has a 1 year low of GBX 3.51 and a 1 year high of GBX 21.50.

Tullow Oil Company Profile

Tullow is an independent energy company that is building a better future through responsible oil and gas development in Africa. Tullow's operations are focused on its core producing assets in Ghana. Tullow is committed to becoming Net Zero on its Scope 1 and 2 emissions by 2030, with a Shared Prosperity strategy that delivers lasting socio-economic benefits for its host nations. The Group is quoted on the London and Ghanaian stock exchanges symbol: TLW. For further information, please refer to: www.tullowoil.com.

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