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Davy Research

Tullow Oil

The investment case is shifting

Jan 12 2024, 07:00 GMT
Colin Grant
Company Report
8 page(s)

Sectors : Resource

Companies : Tullow Oil

Ratings and price correct at time of issue.

Tullow Oil

Closing Price: 32.2p
RATING 15/01/20
OUTPERFORM
PREVIOUS RATING 09/12/19

UNDER REVIEW

Person's Name

Colin Grant

Analyst

DAVY VIEW

Tullow Oil has made huge strides in dealing with its debt. Most recently, this includes the Glencore loan facility and tender offers – leading to a rally in its bond price despite weakness in the oil price. The decline in the financial risk profile has had minimal impact on the share price. This reflects a shift in the investment case.

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Download full report with analyst certification and important disclosures

Jan 12 2024, 07:00 GMT