TransGlobe Energy Co. (TGA) Earns Buy Rating from Canaccord Genuity
TransGlobe Energy Co. (NASDAQ:TGA)‘s stock had its “buy” rating reiterated by equities research analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also commented on TGA. Zacks Investment Research upgraded TransGlobe Energy from a “sell” rating to a “hold” rating in a research note on Friday, September 30th. TD Securities restated a “buy” rating and set a $3.75 price target (up from $3.50) on shares of TransGlobe Energy in a research note on Monday, August 15th. Finally, Scotiabank restated a “sector perform” rating and set a $3.50 price target on shares of TransGlobe Energy in a research note on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $3.05.
TransGlobe Energy (NASDAQ:TGA) traded up 1.00% during midday trading on Tuesday, reaching $2.02. The company had a trading volume of 88,053 shares. The firm’s market capitalization is $145.85 million. The firm’s 50-day moving average price is $1.94 and its 200 day moving average price is $1.81. TransGlobe Energy has a 12 month low of $1.00 and a 12 month high of $3.12.
TransGlobe Energy (NASDAQ:TGA) last released its earnings results on Thursday, August 11th. The company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.07. Equities analysts anticipate that TransGlobe Energy will post ($0.50) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. TFS Capital LLC raised its stake in TransGlobe Energy by 101.3% in the second quarter. TFS Capital LLC now owns 54,394 shares of the company’s stock worth $100,000 after buying an additional 27,376 shares during the period. Numeric Investors LLC bought a new stake in TransGlobe Energy during the second quarter worth about $101,000. Ifrah Financial Services Inc. increased its position in shares of TransGlobe Energy by 2.7% in the second quarter. Ifrah Financial Services Inc. now owns 96,088 shares of the company’s stock worth $176,000 after buying an additional 2,548 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of TransGlobe Energy by 25.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 116,539 shares of the company’s stock worth $193,000 after buying an additional 23,328 shares in the last quarter. Finally, Spark Investment Management LLC increased its position in shares of TransGlobe Energy by 21.4% in the first quarter. Spark Investment Management LLC now owns 244,000 shares of the company’s stock worth $407,000 after buying an additional 43,000 shares in the last quarter.
About TransGlobe Energy
TransGlobe Energy Corporation is an oil exploration and production company. The Company’s activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties.
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