Tullow Oil (TLW)

Sector:

Energy Producers

Index:

FTSE 250

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206.90p
   
  • Change Today:
    -6.70p
  • 52 Week High: 266.30
  • 52 Week Low: 165.15
  • Currency: UK Pounds
  • Shares Issued: 1,403.60m
  • Volume: 3,306,343
  • Market Cap: £2,904.04m
  • RiskGrade: 291
  • Beta: 0.02

Berenberg reaffirms 'hold' rating on Tullow Oil despite 'disappointing update'

By Iain Gilbert

Date: Thursday 25 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg reiterated their 'hold' rating on stocks of Tullow Oil following its "disappointing update" on Thursday.
Berenberg was let down by Tullow's update, both in terms of the company's operational performance and delays in Uganda, and expected the stock to underperform as a result.

However, the German bank said this underperformance "may well be temporary" as the market looked set to focus on the firm's Guyana exploration, one of the most attractive exploration programmes of 2019, which was due to commence in June.

First-quarter production averaged just 84,600 barrels of oil per day, leading to full-year production guidance being revised down to 90-85 kboepd from 93-101 kboepd previously, on the back of issues in Ghana and a delay in completing a production well at the TEN fields.

But Berenberg emphasised how both those issues had now been resolved and hence Tullow's expectation that production would increase into year-end.

Elsewhere, Tullow expects a final investment decision on its Ugandan operations in the second half and Berenberg noted that approval of a farm-down would result in a cash payment of $210m to the group.

All in all, Berenberg said: "We have lowered our 2019 average production to reflect a weaker start to the year, keeping our 'hold' rating and 230p price target unchanged."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tullow Oil Market Data

Currency UK Pounds
Share Price 206.90p
Change Today -6.70p
% Change -3.14 %
52 Week High 266.30
52 Week Low 165.15
Volume 3,306,343
Shares Issued 1,403.60m
Market Cap £2,904.04m
Beta 0.02
RiskGrade 291

Tullow Oil Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
9.61% below the market average9.61% below the market average9.61% below the market average9.61% below the market average9.61% below the market average
91.92% below the sector average91.92% below the sector average91.92% below the sector average91.92% below the sector average91.92% below the sector average
Price Trend
17.87% above the market average17.87% above the market average17.87% above the market average17.87% above the market average17.87% above the market average
57.69% above the sector average57.69% above the sector average57.69% above the sector average57.69% above the sector average57.69% above the sector average
Income
65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
3.01% above the market average3.01% above the market average3.01% above the market average3.01% above the market average3.01% above the market average
32.26% below the sector average32.26% below the sector average32.26% below the sector average32.26% below the sector average32.26% below the sector average

What The Brokers Say

Strong Buy 14
Buy 1
Neutral 5
Sell 0
Strong Sell 1
Total 21
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Tullow Oil Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 04-Apr-19
Paid 18-Sep-19 10-May-19
Amount 2.35¢ 4.80¢

Trades for 23-Aug-2019

Time Volume / Share Price
16:46 7,254 @ 211.31p
16:46 7,754 @ 210.41p
16:46 12,105 @ 209.29p
16:42 43,400 @ 209.56p
16:42 43,400 @ 209.56p

Tullow Oil Key Personnel

CEO Paul McDade
Chair Dorothy Thompson

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