TransGlobe Energy (NASDAQ:TGA) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) from a sell rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

Shares of TGA traded up $0.03 during trading hours on Wednesday, hitting $1.31. 28,906 shares of the stock were exchanged, compared to its average volume of 119,970. TransGlobe Energy has a fifty-two week low of $1.26 and a fifty-two week high of $3.41. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.41 and a quick ratio of 2.83. The business has a 50-day moving average of $1.39 and a 200-day moving average of $1.57. The firm has a market capitalization of $95.76 million, a P/E ratio of 2.91 and a beta of 1.08.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its quarterly earnings data on Monday, August 12th. The basic materials company reported $0.14 earnings per share for the quarter. TransGlobe Energy had a net margin of 8.65% and a return on equity of 4.01%. The company had revenue of $43.07 million during the quarter. As a group, analysts forecast that TransGlobe Energy will post 0.82 earnings per share for the current fiscal year.

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, August 29th. TransGlobe Energy’s dividend payout ratio (DPR) is presently 15.56%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in shares of TransGlobe Energy by 42.2% during the second quarter. Sunbelt Securities Inc. now owns 30,951 shares of the basic materials company’s stock worth $43,000 after buying an additional 9,181 shares during the period. Royal Bank of Canada grew its holdings in TransGlobe Energy by 58.6% in the second quarter. Royal Bank of Canada now owns 28,326 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 10,469 shares during the period. Private Advisor Group LLC grew its holdings in TransGlobe Energy by 57.0% in the second quarter. Private Advisor Group LLC now owns 34,804 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 12,629 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TransGlobe Energy by 0.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,219,412 shares of the basic materials company’s stock worth $3,108,000 after purchasing an additional 15,187 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in TransGlobe Energy by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 717,421 shares of the basic materials company’s stock worth $997,000 after purchasing an additional 25,021 shares during the period. Institutional investors own 40.55% of the company’s stock.

About TransGlobe Energy

TransGlobe Energy Corporation, together with its subsidiaries, engages in the exploration, development, and production of crude oil and natural gas in Egypt and Canada. The company holds an interest in five production sharing concessions, including West Gharib, West Bakr, South Alamein, NW Gharib, and South Ghazalat, Egypt; and owns production and working interests in facilities in the Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west central Alberta, Canada.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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