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Tullow Oil
(LSE:TLW)
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Rating:54Neutral
Price Target:
19.50 p
ā¼(-5.57% Downside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by financial risk (negative equity and high leverage) and a demanding valuation (high P/E), despite supportive technicals with strong price trend and positive momentum.
Positive Factors
Sustained Cash Generation
Operating cash flow has remained positive across all years shown, while free cash flow has generally been positive. This provides an internal funding base for production needs and debt service, although recent volatility limits the cushion.
Negative Factors
High Leverage and Negative Equity
Total debt remained above ~Ā£2.2B in 2025 and shareholdersā equity was negative in every period shown. This weak capitalization limits financial flexibility and leaves less protection against operational or commodity-price setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Cash Generation
Operating cash flow has remained positive across all years shown, while free cash flow has generally been positive. This provides an internal funding base for production needs and debt service, although recent volatility limits the cushion.
Read all positive factors
Tullow Oil (TLW) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
Ā£315.12M
Dividend Yield2.73%
Average Volume (3M)14.95M
Price to Earnings (P/E)70.3
Beta (1Y)0.90
Revenue Growth-47.84%
EPS Growth-277.39%
CountryUK
Employees346
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)<0.01
Shares Outstanding1,515,023,100
10 Day Avg. Volume16,123,000
30 Day Avg. Volume14,946,303
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)-0.47
Price to Sales (P/S)0.14
P/FCF Ratio0.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
Ā£24.67Price Target Upside19.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.09
Revenue Forecast (FY)Ā£1.04B
Tullow Oil Business Overview & Revenue Model
Company Description
Tullow Oil plc, an energy company, develops, produces, and sells oil and gas resources in Ghana, Gabon, CĆ“te dāIvoire, Kenya, and Argentina. The company was founded in 1985 and is headquartered in London, the United Kingdom....
How the Company Makes Money
Tullow Oil primarily makes money by producing and selling crude oil (and, where applicable, associated natural gas) from its upstream assets. Revenue is generated when hydrocarbons produced from the fields in which it holds working interests are s...
Tullow Oil Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
18
Very Negative
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 851.20M | 1.53B | 1.63B | 1.78B | 1.29B |
| Gross Profit | 247.30M | 754.00M | 790.80M | 1.09B | 646.50M |
| EBITDA | 628.60M | 1.11B | 860.20M | 1.20B | 930.80M |
| Net Income | 6.50M | 54.60M | -109.60M | 49.10M | -80.70M |
Balance Sheet | |||||
| Total Assets | 3.28B | 4.05B | 4.46B | 5.04B | 5.54B |
| Cash, Cash Equivalents and Short-Term Investments | 329.20M | 548.60M | 499.00M | 636.30M | 469.10M |
| Total Debt | 2.26B | 2.71B | 2.99B | 3.46B | 3.73B |
| Total Liabilities | 3.53B | 4.32B | 4.82B | 5.50B | 6.01B |
| Stockholders Equity | -252.90M | -272.70M | -359.40M | -459.50M | -466.10M |
Cash Flow | |||||
| Free Cash Flow | 138.70M | 534.00M | 583.70M | 771.40M | 550.40M |
| Operating Cash Flow | 334.30M | 758.50M | 876.20M | 1.08B | 786.90M |
| Investing Cash Flow | 149.50M | -213.10M | -268.50M | -356.20M | -101.70M |
| Financing Cash Flow | -700.20M | -492.20M | -742.50M | -552.80M | -1.03B |
Tullow Oil Technical Analysis
Positive
20.65
Price Trends
15.55
Positive
15.03
Positive
11.95
Positive
Market Momentum
1.78
Negative
65.12
Neutral
61.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:TLW, the sentiment is Positive. The current price of 20.65 is above the 20-day moving average (MA) of 18.62, above the 50-day MA of 15.55, and above the 200-day MA of 11.95, indicating a bullish trend. The MACD of 1.78 indicates Negative momentum. The RSI at 65.12 is Neutral, neither overbought nor oversold. The STOCH value of 61.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:TLW.
Tullow Oil Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | Ā£122.52M | -24.48 | -2.30% | 4.48% | -18.06% | -127.50% | |
70 Outperform | Ā£270.09M | 19.47 | 5.30% | 66.67% | -11.74% | ā | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | Ā£206.34M | -1,287.40 | -0.15% | ā | -38.66% | -105.50% | |
56 Neutral | Ā£152.54M | -7.70 | -7.79% | 10.50% | -38.72% | 52.39% | |
54 Neutral | Ā£315.12M | 70.28 | -2.23% | 2.73% | -47.84% | -277.39% | |
53 Neutral | Ā£201.62M | -1.85 | 177.32% | 239.14% | -8.99% | -826.33% |
* Energy Sector Average
GB:TLW
Tullow Oil
21.10
10.50
99.06%
GB:GENL
Genel Energy
57.30
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-16.47%
GB:CNE
Capricorn Energy PLC
383.00
175.00
84.13%
GB:AET
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43.04%
GB:PHAR
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29.70
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45.99%
GB:JSE
Jadestone Energy Inc
37.20
18.40
97.87%
Tullow Oil Corporate Events
Business Operations and StrategyFinancial Disclosures
Tullow Oil lifts 2026 cash flow guidance on strong Ghana output and higher prices
Positive
Aug 5, 2026
Tullow Oil reported stronger-than-expected operational performance in the first half of 2026, with group production averaging about 43.7 kboepd and output from its Jubilee and TEN fields exceeding forecasts, supported by new wells and 4D seismic-d...
Business Operations and StrategyM&A Transactions
Tullow Oil Sells Kenya Royalty and BackāIn Rights for $9 Million Boost
Positive
Jul 13, 2026
Tullow Oil’s subsidiary Tullow Overseas Holdings BV has agreed to receive an additional $9 million from Auron Energy EP Limited for the sale of Tullow Kenya B.V. shares, in exchange for terminating its Kenyan royalty entitlements and a 30% b...
Business Operations and StrategyExecutive/Board Changes
Tullow Oil Director Garrett Soden Joins Board of Polar Resources
Neutral
Jul 9, 2026
Tullow Oil has announced that non-executive director Garrett Soden has taken on an additional non-executive role at Polar Resources AS, which is listed on Euronext Growth. The appointment underscores Tullow’s continued engagement with the wi...
Business Operations and StrategyRegulatory Filings and Compliance
Tullow Oil Updates Block-Listed Employee Share Schemes for H1 2026
Neutral
Jul 1, 2026
Tullow Oil has reported an interim update on its block-listed employee share schemes for the first half of 2026, covering the Employee Share Award Plan and the Tullow Incentive Plan. Over the period, the company increased the size of both schemes ...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Tullow Oil trims debt with $48 million senior notes repayment
Positive
Jun 24, 2026
Tullow Oil has repaid approximately $48 million of its 10.25% Senior Secured Notes due 2028, a move the company says was enabled by strong operational and financial performance in 2026 and reflects its disciplined capital allocation. Following thi...
Regulatory Filings and Compliance
Insider-Linked Share Purchase Reported at Tullow Oil
Positive
Jun 17, 2026
Tullow Oil disclosed that Birgitte Plauborg, a person closely associated with chair Roald Goethe, purchased 960,000 ordinary shares in the company on 15 June 2026. The transaction, executed on the London Stock Exchange at a price of £0.136 pe...
Business Operations and StrategyExecutive/Board Changes
Tullow Oil Ties Executive Awards to Long-Term Performance and Debt Targets
Positive
Jun 15, 2026
Tullow Oil has granted new conditional nil‑cost share option awards to chief executive Ian Perks and chief financial officer Richard Miller under its 2023 Executive Share Plan. The awards, covering 4,531,250 shares for Perks and 3,125,000 sh...
Other
Tullow Oil Director Boosts Stake With Share Purchase
Positive
Jun 15, 2026
Tullow Oil announced that non-executive director Garrett Soden has purchased 426,000 ordinary shares in the company on the London Stock Exchange. The transaction, executed on 12 June 2026 at a price of £0.152 per share for a total considerati...
Executive/Board ChangesShareholder Meetings
Tullow Oil Investors Back All Resolutions at 2026 AGM
Positive
Jun 10, 2026
Tullow Oil reported that all resolutions at its 10 June 2026 annual general meeting were approved by shareholders, including adoption of the 2025 accounts and key remuneration proposals. The vote confirms broad investor support for the companyR...
Business Operations and StrategyFinancial Disclosures
Tullow Oil Lifts Production Outlook as Ghana Drilling and High Prices Bolster 2026 Cash Flow
Positive
Jun 10, 2026
Tullow Oil reported strong operational performance so far in 2026, with group working interest production averaging 43.1 kboepd between January and May and facility uptime above 99% at its Jubilee and TEN FPSOs, supporting expectations that output...
Regulatory Filings and Compliance
Tullow Oil Confirms Total Voting Rights After Share Capital Update
Neutral
Jun 1, 2026
Tullow Oil has confirmed that, as of 31 May 2026, its issued share capital comprised 1,515,023,041 ordinary shares of 10 pence each, all carrying voting rights and with no shares held in treasury. The disclosure sets the official total of voting r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.