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

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.

NASDAQ:TGA traded up $0.03 during trading hours on Wednesday, hitting $1.31. The company’s stock had a trading volume of 28,906 shares, compared to its average volume of 119,970. The stock has a market capitalization of $95.76 million, a P/E ratio of 2.91 and a beta of 1.08. The stock has a fifty day moving average of $1.39 and a 200-day moving average of $1.57. The company has a current ratio of 3.41, a quick ratio of 2.83 and a debt-to-equity ratio of 0.22. TransGlobe Energy has a 52-week low of $1.26 and a 52-week high of $3.41.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its earnings results on Monday, August 12th. The basic materials company reported $0.14 EPS for the quarter. The firm had revenue of $43.07 million for the quarter. TransGlobe Energy had a return on equity of 4.01% and a net margin of 8.65%. On average, sell-side analysts forecast that TransGlobe Energy will post 0.82 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its stake in TransGlobe Energy by 3.3% in the second quarter. Renaissance Technologies LLC now owns 3,085,567 shares of the basic materials company’s stock valued at $4,289,000 after acquiring an additional 97,831 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 valued at $3,108,000 after acquiring an additional 15,187 shares in the last quarter. Acadian Asset Management LLC boosted its stake in TransGlobe Energy by 13.6% in the second quarter. Acadian Asset Management LLC now owns 1,099,675 shares of the basic materials company’s stock valued at $1,529,000 after acquiring an additional 131,436 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in TransGlobe Energy by 70.4% in the second quarter. Hillsdale Investment Management Inc. now owns 3,278,584 shares of the basic materials company’s stock valued at $4,577,000 after acquiring an additional 1,354,671 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in TransGlobe Energy by 399.9% in the second quarter. Bank of Montreal Can now owns 80,678 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 64,540 shares in the last quarter. 40.55% of the stock is currently owned by hedge funds and other institutional investors.

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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