TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “TransGlobe Energy Corporation (TGA) is an oil exploration and production company. It is a Calgary-based, growth-oriented oil and gas exploration and development company. TransGlobe is dedicated on improving productivity through promoting good oilfield development and exploitation practices including the implementation of industry leading secondary and tertiary recovery methods as well as improvements to production and transportation infrastructure. The Company conducts its operations through the Arab Republic of Egypt segment. It is primarily engaged in oil exploration, development, production and the acquisition of properties. TransGlobe Energy Corporation, through its subsidiaries, explores for, develops, and produces crude oil and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South West Gharib, South East Gharib, South Ghazalat, South Alamein, and North West Sitra production sharing contracts. “
Separately, ValuEngine downgraded shares of TransGlobe Energy from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st.
TransGlobe Energy (TGA) traded down $0.01 during midday trading on Tuesday, reaching $1.30. 25,729 shares of the company traded hands, compared to its average volume of 80,671. TransGlobe Energy has a 52-week low of $1.07 and a 52-week high of $1.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.63 and a quick ratio of 2.26. The stock has a market capitalization of $93.14, a price-to-earnings ratio of -1.20 and a beta of 0.93.
TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its quarterly earnings results on Wednesday, March 7th. The basic materials company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.13. TransGlobe Energy had a negative net margin of 43.56% and a positive return on equity of 1.43%. The firm had revenue of $72.95 million for the quarter, compared to analyst estimates of $65.00 million. sell-side analysts anticipate that TransGlobe Energy will post -0.01 earnings per share for the current fiscal year.
An institutional investor recently raised its position in TransGlobe Energy stock. Renaissance Technologies LLC lifted its stake in shares of TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,767,300 shares of the basic materials company’s stock after buying an additional 44,900 shares during the quarter. Renaissance Technologies LLC owned approximately 2.45% of TransGlobe Energy worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission. 18.83% of the stock is currently owned by institutional investors and hedge funds.
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TransGlobe Energy Company Profile
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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