Tullow Oil (OTCMKTS:TUWOY) Raised to “Buy” at Zacks Investment Research

Tullow Oil (OTCMKTS:TUWOYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $0.25 price target on the energy company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 24.24% from the company’s previous close.

According to Zacks, “Tullow Oil plc operates as an independent oil and gas exploration and production company in Europe. Tullow has a large portfolio of exploration and production assets with a focus on balanced long-term growth. Tullow Oil plc is headquartered in London, the United Kingdom. “

Several other equities analysts also recently issued reports on TUWOY. Barclays boosted their price objective on Tullow Oil from GBX 85 ($1.05) to GBX 87 ($1.07) in a research report on Wednesday, April 6th. JPMorgan Chase & Co. reduced their price objective on Tullow Oil from GBX 79 ($0.97) to GBX 77 ($0.95) in a research report on Wednesday, February 16th. Finally, Peel Hunt upgraded Tullow Oil from a “hold” rating to a “buy” rating in a research report on Tuesday, March 29th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $54.75.

Shares of OTCMKTS TUWOY traded up $0.07 during midday trading on Wednesday, hitting $0.33. 244,578 shares of the company’s stock were exchanged, compared to its average volume of 30,377. The stock’s 50 day moving average price is $0.31 and its 200-day moving average price is $0.31. Tullow Oil has a twelve month low of $0.23 and a twelve month high of $0.43.

Tullow Oil Company Profile (Get Rating)

Tullow Oil plc engages in the oil and gas exploration, development, and production activities primarily in Africa and South America. As of December 31, 2021, its portfolio comprised 30 licenses in 8 countries with 30 producing wells. The company was founded in 1985 and is headquartered in London, the United Kingdom.

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