ValuEngine downgraded shares of Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) from a sell rating to a strong sell rating in a report issued on Friday morning.

Separately, Zacks Investment Research lowered shares of Transglobe Energy Corp from a hold rating to a sell rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Transglobe Energy Corp currently has a consensus rating of Hold and a consensus target price of $3.50.

Transglobe Energy Corp (TGA) opened at 1.29 on Friday. Transglobe Energy Corp has a 52 week low of $1.16 and a 52 week high of $2.18. The company has a 50-day moving average of $1.28 and a 200-day moving average of $1.44. The company’s market cap is $93.14 million.

Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) last released its earnings results on Monday, August 14th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.08. The company had revenue of $40.44 million for the quarter. Transglobe Energy Corp had a negative net margin of 119.18% and a negative return on equity of 10.87%. On average, equities research analysts predict that Transglobe Energy Corp will post ($0.34) EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. acquired a new stake in Transglobe Energy Corp during the 1st quarter worth approximately $1,094,000. Van ECK Associates Corp lifted its holdings in Transglobe Energy Corp by 19.1% during the 1st quarter. Van ECK Associates Corp now owns 689,978 shares of the basic materials company’s stock worth $1,093,000 after buying an additional 110,491 shares in the last quarter. Norges Bank acquired a new stake in Transglobe Energy Corp during the 4th quarter worth approximately $281,000. Brandes Investment Partners LP lifted its holdings in Transglobe Energy Corp by 773.3% during the 1st quarter. Brandes Investment Partners LP now owns 140,598 shares of the basic materials company’s stock worth $219,000 after buying an additional 124,498 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Transglobe Energy Corp by 1.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,621,400 shares of the basic materials company’s stock worth $2,529,000 after buying an additional 17,300 shares in the last quarter. Institutional investors own 27.79% of the company’s stock.

About Transglobe Energy Corp

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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