TransGlobe Energy (TGA) Stock Rating Lowered by BidaskClub

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday, September 20th.

Several other analysts also recently commented on TGA. Zacks Investment Research upgraded TransGlobe Energy from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Thursday, June 28th. ValuEngine upgraded TransGlobe Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, TheStreet upgraded TransGlobe Energy from a “d” rating to a “c” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $2.75.

Shares of TransGlobe Energy stock traded up $0.10 during midday trading on Thursday, hitting $3.10. The company had a trading volume of 399,996 shares, compared to its average volume of 348,201. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $241.16 million, a P/E ratio of -11.07 and a beta of 0.92. TransGlobe Energy has a 52-week low of $1.21 and a 52-week high of $4.13.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its quarterly earnings results on Tuesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.28). TransGlobe Energy had a positive return on equity of 4.40% and a negative net margin of 5.01%. The company had revenue of $68.45 million during the quarter. As a group, equities analysts expect that TransGlobe Energy will post 0.51 EPS for the current year.

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in TransGlobe Energy by 52.4% during the second quarter. Renaissance Technologies LLC now owns 2,919,767 shares of the basic materials company’s stock valued at $8,087,000 after acquiring an additional 1,004,367 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in TransGlobe Energy by 570.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,235 shares of the basic materials company’s stock valued at $1,935,000 after acquiring an additional 595,000 shares during the period. FMR LLC raised its holdings in TransGlobe Energy by 1,249.0% during the second quarter. FMR LLC now owns 337,255 shares of the basic materials company’s stock valued at $934,000 after acquiring an additional 312,255 shares during the period. Acadian Asset Management LLC purchased a new position in shares of TransGlobe Energy during the second quarter valued at about $732,000. Finally, Russell Investments Group Ltd. grew its position in shares of TransGlobe Energy by 58.4% during the first quarter. Russell Investments Group Ltd. now owns 660,837 shares of the basic materials company’s stock valued at $887,000 after purchasing an additional 243,649 shares in the last quarter. 34.60% of the stock is currently owned by institutional investors.

TransGlobe Energy Company Profile

TransGlobe Energy Corporation, together with its subsidiaries, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South Alamein, South Ghazalat, and North West Sitra production sharing concessions.

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