TransGlobe Energy (TGA) Posts Quarterly Earnings Results
TransGlobe Energy (NYSE:TGA) issued its quarterly earnings data on Wednesday. The company reported $0.35 earnings per share for the quarter, AmericanBankingNews.com reports. The company had revenue of $85.38 million for the quarter, compared to the consensus estimate of $76.41 million.
TransGlobe Energy (NYSE:TGA) opened at 6.36 on Wednesday. TransGlobe Energy has a one year low of $6.01 and a one year high of $9.66. The stock has a 50-day moving average of $6.78 and a 200-day moving average of $7.18. The company has a market cap of $475.2 million and a P/E ratio of 10.65.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Thursday, September 11th.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of TransGlobe Energy from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 6th. They now have a $5.80 price target on the stock. On the ratings front, analysts at Raymond James initiated coverage on shares of TransGlobe Energy in a research note on Friday, June 20th. They set an “outperform” rating and a $9.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of TransGlobe Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. TransGlobe Energy presently has a consensus rating of “Hold” and an average target price of $10.54.
TransGlobe Energy Corporation (NYSE:TGA) is an independent international upstream oil and gas company.
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