Tullow Oil (LON:TLW) Price Target Lowered to GBX 10 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 objective reduced by equities research analysts at Canaccord Genuity Group from GBX 16 ($0.21) to GBX 10 ($0.13) in a report issued on Thursday, MarketBeat reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price target would suggest a potential downside of 11.03% from the stock's current price.

A number of other equities analysts also recently weighed in on TLW. Jefferies Financial Group reissued an "underperform" rating and set a GBX 12 ($0.16) price target on shares of Tullow Oil in a research report on Thursday. Shore Capital reissued a "buy" rating on shares of Tullow Oil in a research report on Wednesday, July 30th.

Tullow Oil Price Performance

Shares of LON TLW opened at GBX 11.24 ($0.15) on Thursday. The business's 50 day moving average price is GBX 16.21 and its two-hundred day moving average price is GBX 15.73. The company has a market cap of £207.91 million, a PE ratio of 13.28, a price-to-earnings-growth ratio of -0.19 and a beta of 2.08. 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. Tullow Oil has a twelve month low of GBX 11 ($0.15) and a twelve month high of GBX 29.04 ($0.39).

Insider Activity

In other news, insider Roald Goethe acquired 100,000 shares of Tullow Oil stock in a transaction dated Wednesday, June 25th. The stock was bought at an average price of GBX 17 ($0.23) per share, for a total transaction of £17,000 ($22,709.06). 24.59% of the stock is currently 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.

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