Insider Selling: TransGlobe Energy Co. (TGL) Director Sells 43,949 Shares of Stock

TransGlobe Energy Co. (TSE:TGL) (NYSE:TGA) Director Ross Gordon Clarkson sold 43,949 shares of the firm’s stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of C$3.10, for a total value of C$136,241.90.

Shares of TransGlobe Energy opened at C$3.20 on Tuesday, Marketbeat.com reports. TransGlobe Energy Co. has a fifty-two week low of C$1.30 and a fifty-two week high of C$3.35.

TransGlobe Energy (TSE:TGL) (NYSE:TGA) last posted its earnings results on Thursday, May 10th. The company reported C($0.18) EPS for the quarter. TransGlobe Energy had a negative net margin of 15.28% and a negative return on equity of 12.83%. The company had revenue of C$66.94 million for the quarter.

A number of brokerages have recently commented on TGL. Scotiabank reaffirmed a “sector perform” rating and issued a C$3.00 price objective on shares of TransGlobe Energy in a research report on Tuesday, April 17th. Canaccord Genuity boosted their price objective on TransGlobe Energy from C$3.00 to C$3.50 in a research note on Wednesday, April 11th. Finally, Royal Bank of Canada upgraded TransGlobe Energy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from C$3.00 to C$4.00 in a research note on Thursday, May 17th.

About TransGlobe Energy

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.

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