Morgan Stanley upgraded shares of Tullow Oil plc (LON:TLW) to an overweight rating in a research note released on Thursday morning. They currently have GBX 372 ($4.60) target price on the stock, up from their previous target price of GBX 312 ($3.86).
A number of other research analysts have also recently commented on TLW. Barclays PLC reiterated an overweight rating and set a GBX 300 ($3.71) price target on shares of Tullow Oil plc in a research report on Friday, June 17th. JPMorgan Chase & Co. reiterated an overweight rating and set a GBX 290 ($3.59) price target on shares of Tullow Oil plc in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. increased their price target on shares of Tullow Oil plc from GBX 274.30 ($3.39) to GBX 276.80 ($3.43) and gave the company a neutral rating in a research report on Tuesday, June 28th. Deutsche Bank AG reiterated a hold rating and set a GBX 270 ($3.34) price target on shares of Tullow Oil plc in a research report on Wednesday, June 29th. Finally, Liberum Capital cut shares of Tullow Oil plc to a sell rating and increased their price target for the company from GBX 170 ($2.10) to GBX 178 ($2.20) in a research report on Wednesday, June 29th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of GBX 262.80 ($3.25).
Shares of Tullow Oil plc (LON:TLW) traded up 7.42% on Thursday, hitting GBX 285.10. 6,388,455 shares of the stock were exchanged. The company has a 50 day moving average of GBX 235.99 and a 200 day moving average of GBX 231.60. Tullow Oil plc has a 52-week low of GBX 116.26 and a 52-week high of GBX 292.20. The company’s market cap is GBX 2.60 billion.
In other Tullow Oil plc news, insider Angus McCoss purchased 173 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were bought at an average cost of GBX 260 ($3.22) per share, with a total value of £449.80 ($556.68). Also, insider Heavey,Aidan sold 222,698 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of GBX 227 ($2.81), for a total value of £505,524.46 ($625,649.08).
About Tullow Oil plc
Tullow Oil plc is an independent oil and gas exploration and production company. The Company focuses on finding and monetizing oil in Africa and the Atlantic Margins. The Company operates through segments, including West Africa, East Africa and New Ventures. It has a portfolio of approximately 120 licenses across over 20 countries, which are managed under West Africa Business, East Africa Business and New Ventures Business.
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