Tullow Oil (LON:TLW) Given New GBX 10 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has lowered Tullow Oil's price target from GBX 16 to GBX 10, representing a potential downside of 11.03% from the current stock price.
• Jefferies Financial Group has issued a rating of "underperform" with a price target of GBX 12, while Shore Capital maintains a "buy" rating on the company's shares.
• Tullow Oil aims to achieve Net Zero emissions on its Scope 1 and 2 by 2030 as part of its commitment to responsible energy development in Africa.

Tullow Oil (LON:TLW - Get Free Report) had its price target decreased by Canaccord Genuity Group from GBX 16 ($0.22) to GBX 10 ($0.13) in a report released on Thursday, Marketbeat.com reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 8.34% from the company's previous close.

Several other research firms have also weighed in on TLW. Jefferies Financial Group reaffirmed an "underperform" rating and issued a GBX 12 ($0.16) target price on shares of Tullow Oil in a report on Thursday. Shore Capital reiterated a "buy" rating on shares of Tullow Oil in a research report on Wednesday, July 30th.

Tullow Oil Stock Performance

TLW traded down GBX 0.76 ($0.01) during trading on Thursday, reaching GBX 9.23 ($0.12). 18,525,377 shares of the company's stock were exchanged, compared to its average volume of 8,216,844. Tullow Oil has a fifty-two week low of GBX 9.23 ($0.12) and a fifty-two week high of GBX 28.86 ($0.39). The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of -1,776.31. The business has a 50 day moving average price of GBX 16.01 and a 200 day moving average price of GBX 15.45. The company has a market capitalization of £170.73 million, a P/E ratio of 10.91, a PEG ratio of -0.19 and a beta of 2.08.

Insider Buying and Selling at Tullow Oil

In other Tullow Oil news, insider Roald Goethe purchased 2,000,000 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of GBX 12 ($0.16) per share, with a total value of £240,000 ($322,667.38). 24.59% of the stock is owned by corporate insiders.

Tullow Oil Company Profile

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.