Tullow Oil (LON:TLW) Given Buy Rating at Peel Hunt

Key Points

• Peel Hunt reaffirmed a “buy” rating on Tullow Oil and set a GBX 24 price target, implying 69.25% potential upside from the current price.
• Analyst sentiment remains mixed: the consensus rating is “Reduce”, with an average target price of GBX 15.88. Canaccord raised its target to GBX 14 while maintaining a “hold” rating, and Shore Capital also reiterated “hold.”
• Tullow Oil shares traded down 1.14 pence to GBX 14.18, while insiders recently bought shares, including 426,000 shares purchased by Garrett Soden and 115,000 by Richard Miller.

Tullow Oil (LON:TLW - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Peel Hunt in a report issued on Wednesday,London Stock Exchange reports. They currently have a GBX 24 price target on the stock. Peel Hunt's price objective would suggest a potential upside of 69.25% from the stock's current price.

Several other analysts also recently weighed in on the stock. Canaccord Genuity Group lifted their target price on shares of Tullow Oil from GBX 13 to GBX 14 and gave the company a "hold" rating in a report on Wednesday, April 29th. Shore Capital Group reissued a "hold" rating on shares of Tullow Oil in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of GBX 15.88.

Tullow Oil Stock Performance

Tullow Oil stock traded down GBX 1.14 during trading hours on Wednesday, reaching GBX 14.18. 15,141,700 shares of the stock were exchanged, compared to its average volume of 18,056,477. Tullow Oil has a 52-week low of GBX 3.51 and a 52-week high of GBX 19.50. The stock has a market cap of £214.83 million, a P/E ratio of 35.45, a P/E/G ratio of -0.19 and a beta of 0.47. The company has a debt-to-equity ratio of -892.65, a quick ratio of 0.63 and a current ratio of 0.52. The firm's 50 day moving average is GBX 13.82 and its 200 day moving average is GBX 12.53.

Insider Buying and Selling

In other Tullow Oil news, insider Garrett Soden acquired 426,000 shares of the business's stock in a transaction on Friday, June 12th. The stock was purchased at an average price of GBX 15 per share, for a total transaction of £63,900. Also, insider Richard Miller bought 115,000 shares of Tullow Oil stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of GBX 17 per share, with a total value of £19,550. 3.00% of the stock is owned by insiders.

Tullow Oil Company Profile

Tullow is an independent energy company committed to building a better future through the responsible oil and gas development of its core producing assets in Ghana. 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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