TransGlobe Energy (TGA) Upgraded by ValuEngine to “Hold”

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.

A number of other brokerages have also issued reports on TGA. Zacks Investment Research lowered TransGlobe Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Royal Bank of Canada raised TransGlobe Energy from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 17th.

Shares of TransGlobe Energy opened at $2.72 on Wednesday, Marketbeat.com reports. TransGlobe Energy has a 12-month low of $1.07 and a 12-month high of $2.84. The company has a market capitalization of $176.18 million, a P/E ratio of -9.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.67 and a quick ratio of 2.11.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last issued its quarterly earnings data on Thursday, May 10th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.22). TransGlobe Energy had a positive return on equity of 2.88% and a negative net margin of 35.97%. The business had revenue of $52.95 million during the quarter. equities research analysts forecast that TransGlobe Energy will post 0.02 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC grew its holdings in TransGlobe Energy by 2.8% in the 4th quarter. Clearbridge Investments LLC now owns 1,387,409 shares of the basic materials company’s stock worth $1,996,000 after buying an additional 38,102 shares in the last quarter. Renaissance Technologies LLC grew its holdings in TransGlobe Energy by 2.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,767,300 shares of the basic materials company’s stock worth $2,543,000 after buying an additional 44,900 shares in the last quarter. CIBC World Markets Inc. bought a new position in TransGlobe Energy in the 1st quarter worth approximately $112,000. Hillsdale Investment Management Inc. grew its holdings in TransGlobe Energy by 16.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,105,968 shares of the basic materials company’s stock worth $1,485,000 after buying an additional 159,600 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in TransGlobe Energy by 58.4% in the 1st quarter. Russell Investments Group Ltd. now owns 660,837 shares of the basic materials company’s stock worth $887,000 after buying an additional 243,649 shares in the last quarter. 29.19% of the stock is owned by institutional investors and hedge funds.

TransGlobe Energy Company Profile

TransGlobe Energy Corporation, together with its subsidiaries, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South Alamein, South Ghazalat, and North West Sitra production sharing concessions.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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