TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other research analysts have also issued reports on TGA. Canaccord Genuity restated a “buy” rating on shares of TransGlobe Energy in a research report on Thursday, August 11th. TD Securities restated a “buy” rating and issued a $3.75 price target (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 price target on shares of TransGlobe Energy in a research report on Wednesday, October 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $3.10.

Analyst Recommendations for TransGlobe Energy (NASDAQ:TGA)

TransGlobe Energy (NASDAQ:TGA) opened at 1.78 on Tuesday. TransGlobe Energy has a one year low of $1.00 and a one year high of $2.25. The stock’s 50 day moving average price is $1.91 and its 200-day moving average price is $1.84. The firm’s market cap is $128.52 million.

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in shares of TransGlobe Energy by 210.5% in the second quarter. Acadian Asset Management LLC now owns 635,829 shares of the company’s stock worth $1,163,000 after buying an additional 431,065 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of TransGlobe Energy during the second quarter worth approximately $974,000. Boston Partners raised its stake in shares of TransGlobe Energy by 9.7% in the second quarter. Boston Partners now owns 398,841 shares of the company’s stock worth $730,000 after buying an additional 35,195 shares during the period. Ifrah Financial Services Inc. raised its stake 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 during the period. Finally, TFS Capital LLC raised its stake in shares of 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.

TRADEMARK VIOLATION NOTICE: “TransGlobe Energy Co. (TGA) Stock Rating Lowered by Zacks Investment Research” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2016/11/24/transglobe-energy-co-tga-stock-rating-lowered-by-zacks-investment-research.html.

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.

5 Day Chart for NASDAQ:TGA

Receive News & Stock Ratings for TransGlobe Energy Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransGlobe Energy Co. and related stocks with our FREE daily email newsletter.