Tullow Oil (LON:TLW) Cut to Neutral at JPMorgan Chase & Co.

Tullow Oil (LON:TLW) was downgraded by stock analysts at JPMorgan Chase & Co. to a “neutral” rating in a report issued on Thursday, ThisIsMoney.Co.Uk reports. They presently have a GBX 249 ($3.25) price target on the stock, down from their prior price target of GBX 278 ($3.63). JPMorgan Chase & Co.‘s target price suggests a potential upside of 67.79% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Peel Hunt restated a “buy” rating on shares of Tullow Oil in a research report on Wednesday. UBS Group restated a “neutral” rating on shares of Tullow Oil in a research report on Thursday. Barclays cut their price objective on shares of Tullow Oil from GBX 270 ($3.53) to GBX 200 ($2.61) and set an “overweight” rating for the company in a research report on Thursday. Berenberg Bank cut their price objective on shares of Tullow Oil from GBX 260 ($3.40) to GBX 230 ($3.01) and set a “buy” rating for the company in a research report on Thursday. Finally, Canaccord Genuity upgraded shares of Tullow Oil to a “buy” rating and raised their price objective for the stock from GBX 260 ($3.40) to GBX 280 ($3.66) in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Tullow Oil presently has a consensus rating of “Buy” and an average price target of GBX 245.05 ($3.20).

Shares of LON TLW opened at GBX 148.40 ($1.94) on Thursday. The firm has a 50-day simple moving average of GBX 208 and a 200-day simple moving average of GBX 209.27. The stock has a market capitalization of $2.04 billion and a price-to-earnings ratio of 15.96. The company has a quick ratio of 0.85, a current ratio of 1.70 and a debt-to-equity ratio of 170.48. Tullow Oil has a 52 week low of GBX 144.80 ($1.89) and a 52 week high of GBX 254.60 ($3.33).

About Tullow Oil

Tullow Oil plc engages in the oil and gas exploration, development, and production activities primarily in Africa and South America. Its portfolio comprises 87 licenses covering 267,649 square kilometers in 17 countries. The company was founded in 1985 and is headquartered in London, the United Kingdom.

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Analyst Recommendations for Tullow Oil (LON:TLW)

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