Tullow Oil (LON:TLW) Downgraded by Berenberg Bank

Berenberg Bank lowered shares of Tullow Oil (LON:TLW) to a hold rating in a report issued on Thursday, Stock Target Advisor reports. Berenberg Bank currently has GBX 40 ($0.49) target price on the stock, down from their previous target price of GBX 55 ($0.68).

Other research analysts have also issued research reports about the company. Royal Bank of Canada raised their price objective on Tullow Oil from GBX 20 ($0.25) to GBX 25 ($0.31) and gave the company an underperform rating in a report on Friday, June 12th. JPMorgan Chase & Co. decreased their price objective on Tullow Oil from GBX 63 ($0.78) to GBX 26 ($0.32) and set a neutral rating on the stock in a report on Monday, April 6th. Morgan Stanley decreased their price objective on Tullow Oil from GBX 61 ($0.75) to GBX 24 ($0.30) and set an equal weight rating on the stock in a report on Wednesday, June 3rd. Peel Hunt restated a buy rating and issued a GBX 40 ($0.49) price objective on shares of Tullow Oil in a report on Tuesday, June 2nd. Finally, Peel Hunt restated a buy rating on shares of Tullow Oil in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Tullow Oil currently has an average rating of Hold and a consensus target price of GBX 59.43 ($0.73).

Shares of TLW stock opened at GBX 25.12 ($0.31) on Thursday. The stock’s fifty day moving average is GBX 31.45 and its two-hundred day moving average is GBX 30.87. The company has a debt-to-equity ratio of 457.18, a quick ratio of 0.74 and a current ratio of 1.01. The firm has a market capitalization of $354.42 million and a P/E ratio of -0.21. Tullow Oil has a fifty-two week low of GBX 0.30 ($0.00) and a fifty-two week high of GBX 251.31 ($3.09).

In other news, insider Les Wood sold 47,711 shares of Tullow Oil stock in a transaction on Monday, May 11th. The stock was sold at an average price of GBX 26 ($0.32), for a total transaction of £12,404.86 ($15,265.64).

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.

Read More: Pattern Day Trader – What is the PDT Rule?

Analyst Recommendations for Tullow Oil (LON:TLW)

Receive News & Ratings for Tullow Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tullow Oil and related companies with MarketBeat.com's FREE daily email newsletter.