TransGlobe Energy Co. (TGA) Receives Buy Rating from Canaccord Genuity
Several other brokerages also recently issued reports on TGA. Zacks Investment Research downgraded TransGlobe Energy from a hold rating to a sell rating in a research report on Tuesday, September 20th. TD Securities restated a buy rating and issued a $3.75 target price (up from $3.50) on shares of TransGlobe Energy in a research report on Monday, August 15th. Finally, Scotiabank restated a sector perform rating and issued a $3.50 target price on shares of TransGlobe Energy in a research report on Saturday, June 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. TransGlobe Energy currently has an average rating of Hold and a consensus price target of $3.05.
TransGlobe Energy (NASDAQ:TGA) traded up 1.4650% during midday trading on Tuesday, hitting $2.0293. The stock had a trading volume of 89,553 shares. TransGlobe Energy has a one year low of $1.00 and a one year high of $3.12. The stock’s market cap is $146.53 million. The firm has a 50 day moving average price of $1.94 and a 200 day moving average price of $1.81.
TransGlobe Energy (NASDAQ:TGA) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.07. Equities analysts expect that TransGlobe Energy will post ($0.50) EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of TGA. Renaissance Technologies LLC boosted its position in TransGlobe Energy by 27.1% in the first quarter. Renaissance Technologies LLC now owns 1,092,500 shares of the company’s stock valued at $1,814,000 after buying an additional 233,100 shares in the last quarter. Acadian Asset Management LLC boosted its position in TransGlobe Energy by 210.5% in the second quarter. Acadian Asset Management LLC now owns 635,829 shares of the company’s stock valued at $1,163,000 after buying an additional 431,065 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in TransGlobe Energy during the second quarter valued at about $974,000. Boston Partners boosted its position in TransGlobe Energy by 9.7% in the second quarter. Boston Partners now owns 398,841 shares of the company’s stock valued at $730,000 after buying an additional 35,195 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in TransGlobe Energy by 19.5% in the second quarter. Van ECK Associates Corp now owns 252,574 shares of the company’s stock valued at $465,000 after buying an additional 41,266 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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