On Tuesday numis reiterated its target price on Tullow Oil (LON:TLW) shares issuing the company with a ‘Sell’ rating.
numis gave the share price of Tullow Oil a price target of 250 meaning the broker expects a potential downside of -23.36% from Tullow Oil’s current market price of 326.2.
Tullow Oil has 911,900,000 shares outstanding at the moment which are trading around 326.2 bringing Tullow Oil’s market capitalisation to 2.97B GBP.
The 52 week high of Tullow Oil’s shares is 346.2 whilst the 52 week low for shares in the company is 116.26. The 50 day moving average of LON:TLW is 303.98 and the 200 day moving average is 255.25.
Tullow Oil plc is an independent oil and gas exploration and production company. The Company is focused on finding and monetizing oil in Africa and the Atlantic Margins. Its activities include targeted exploration and appraisal, selective development projects and growing its West Africa oil production. The Company, through its subsidiaries, has interests in over 110 exploration and production licenses in approximately 20 countries. Its production and development projects in West Africa includes its operated asset, the Jubilee field in Ghana, the TEN Project and a portfolio of non-operated production assets. The Company is focused on exploration activity across its acreage position in Kenya. Its onshore acreage in Kenya includes Blocks 10BA, 10BB, 12A, 12B and 13T. Its New Ventures operations are focused on the frontier exploration and appraisal activity across Africa, the Caribbean, Latin America and Europe. The Company has production assets in Africa and Europe.