TransGlobe Energy’s (TGL) “Sector Perform” Rating Reaffirmed at Scotiabank

TransGlobe Energy Co. (TSE:TGL) (NYSE:TGA)‘s stock had its “sector perform” rating reiterated by stock analysts at Scotiabank in a research note issued on Tuesday, October 17th. They currently have a C$2.75 price objective on the stock. Scotiabank’s target price points to a potential upside of 37.50% from the company’s current price.

Shares of TransGlobe Energy (TSE TGL) opened at 2.00 on Tuesday. The firm’s market cap is $144.41 million. TransGlobe Energy has a 12-month low of $1.30 and a 12-month high of $2.70. The firm’s 50-day moving average is $1.73 and its 200-day moving average is $1.79.

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In other news, insider Randy Neely bought 35,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was acquired at an average price of C$1.45 per share, with a total value of C$50,750.00.

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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