TransGlobe Energy Price Target Cut to $10.50 (TGA)
TD Securities decreased their price target on shares of TransGlobe Energy (NYSE:TGA) to $10.50 in a research note issued on Friday. TD Securities’ price target would suggest a potential upside of 68.27% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Sandfire Securities cut their price target on shares of TransGlobe Energy from C$13.00 to C$12.50 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.73.
Shares of TransGlobe Energy (NYSE:TGA) traded up 2.40% during mid-day trading on Friday, hitting $6.39. The stock had a trading volume of 150,318 shares. TransGlobe Energy has a 52 week low of $6.00 and a 52 week high of $9.66. The stock has a 50-day moving average of $6.7 and a 200-day moving average of $7.17. The company has a market cap of $478.3 million and a price-to-earnings ratio of 7.70.
TransGlobe Energy (NYSE:TGA) last announced its earnings results on Wednesday, August 13th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.13. The company had revenue of $85.38 million for the quarter, compared to the consensus estimate of $76.41 million. Analysts expect that TransGlobe Energy will post $0.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Thursday, September 11th.
TransGlobe Energy Corporation (NYSE:TGA) is an independent international upstream oil and gas company.
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