ValuEngine downgraded shares of Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) from a sell rating to a strong sell rating in a research report released on Friday, September 1st.
Separately, Zacks Investment Research lowered Transglobe Energy Corp from a hold rating to a sell rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $3.50.
Transglobe Energy Corp (TGA) traded down 13.71% during midday trading on Friday, reaching $1.07. 438,838 shares of the company traded hands. The firm’s market capitalization is $77.26 million. Transglobe Energy Corp has a 12 month low of $1.07 and a 12 month high of $2.16. The company’s 50-day moving average price is $1.25 and its 200 day moving average price is $1.41.
Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) last announced its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.08. Transglobe Energy Corp had a negative return on equity of 10.87% and a negative net margin of 119.18%. The firm had revenue of $40.44 million during the quarter. On average, equities analysts anticipate that Transglobe Energy Corp will post ($0.34) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Transglobe Energy Corp by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 738,116 shares of the basic materials company’s stock worth $985,000 after buying an additional 48,138 shares during the period. Cutter & CO Brokerage Inc. increased its position in Transglobe Energy Corp by 0.9% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 117,978 shares of the basic materials company’s stock worth $158,000 after buying an additional 1,100 shares during the period. Renaissance Technologies LLC increased its position in Transglobe Energy Corp by 1.1% in 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 during the period. Brandes Investment Partners LP increased its position in Transglobe Energy Corp by 773.3% in 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 during the period. Finally, Sunbelt Securities Inc. increased its position in Transglobe Energy Corp by 61.3% in the 1st quarter. Sunbelt Securities Inc. now owns 86,055 shares of the basic materials company’s stock worth $134,000 after buying an additional 32,705 shares during the period. 27.79% of the stock is currently owned by institutional investors.
Transglobe Energy Corp 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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