Tullow Oil (TLW)

Sector:

Energy Producers

Index:

FTSE Small Cap

30.39p
   
  • Change Today:
      4.88p
  • 52 Week High: 241.00
  • 52 Week Low: 7.55
  • Currency: UK Pounds
  • Shares Issued: 1,410.33m
  • Volume: 56,140,684
  • Market Cap: £428.60m
  • RiskGrade: 822

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 30.39p
Change Today 4.88p
% Change 19.13 %
52 Week High 241.00
52 Week Low 7.55
Volume 56,140,684
Shares Issued 1,410.33m
Market Cap £428.60m
RiskGrade 822

Tullow Oil Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.07% above the market average27.07% above the market average27.07% above the market average27.07% above the market average27.07% above the market average
51.11% below the sector average51.11% below the sector average51.11% below the sector average51.11% below the sector average51.11% below the sector average
Price Trend
98.44% below the market average98.44% below the market average98.44% below the market average98.44% below the market average98.44% below the market average
90% below the sector average90% below the sector average90% below the sector average90% below the sector average90% below the sector average
Income
30.01% below the market average30.01% below the market average30.01% below the market average30.01% below the market average30.01% 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
27.64% below the market average27.64% below the market average27.64% below the market average27.64% below the market average27.64% below the market average
45.16% below the sector average45.16% below the sector average45.16% below the sector average45.16% below the sector average45.16% below the sector average

What The Brokers Say

Strong Buy 4
Buy 1
Neutral 8
Sell 1
Strong Sell 3
Total 17
neutral
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 04-Oct-19 10-May-19
Amount 2.35¢ 4.80¢

Trades for 05-Jun-2020

Time Volume / Share Price
17:05 130,000 @ 30.39p
16:35 1,480,409 @ 30.39p
16:31 195,000 @ 29.99p
16:30 10,194 @ 29.90p
16:29 3,350 @ 29.85p

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