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’s primary activity is the discovery and production of oil and gas. Its segments include West Africa; East Africa, and New Ventures. The West Africa Business focuses on its production and development projects in West Africa and Europe. The business includes its operated asset, the Jubilee field in Ghana, the TEN Project and a portfolio of non-operated production assets in approximately five countries across the region. The East Africa Business is focused on exploration activity across the Company’s acreage position in Kenya. The New Ventures Business is focused on its frontier exploration and appraisal activity across Africa and South America. It manages its New Ventures portfolio through both license acquisitions and farm downs of existing acreage. Its activities include targeted exploration and appraisal, and selective development projects. It has operations in Africa and South America.