Transglobe Energy (TGA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Transglobe Energy (NASDAQ:TGA) (TSE:TGL) from a sell rating to a hold rating in a report issued on Friday morning.

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. “

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Separately, ValuEngine lowered shares of Transglobe Energy from a sell rating to a strong sell rating in a report on Sunday, December 31st.

Shares of NASDAQ:TGA opened at $1.29 on Friday. The firm has a market capitalization of $93.14, a PE ratio of -4.61 and a beta of 0.82. Transglobe Energy has a one year low of $1.07 and a one year high of $1.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.26 and a current ratio of 2.63.

Transglobe Energy (NASDAQ:TGA) (TSE:TGL) last issued its quarterly earnings results on Wednesday, March 7th. The basic materials company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.13. The firm had revenue of $72.95 million for the quarter, compared to analyst estimates of $65.00 million. Transglobe Energy had a negative net margin of 43.56% and a positive return on equity of 1.43%. research analysts expect that Transglobe Energy will post -0.01 EPS for the current fiscal year.

An institutional investor recently raised its position in Transglobe Energy stock. Renaissance Technologies LLC lifted its holdings in shares of Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,767,300 shares of the basic materials company’s stock after purchasing an additional 44,900 shares during the period. Renaissance Technologies LLC owned about 2.45% of Transglobe Energy worth $2,543,000 as of its most recent filing with the SEC. Institutional investors own 18.83% of the company’s stock.

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Transglobe Energy Company Profile

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.

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