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TransGlobe Energy (NYSE:TGA) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Thursday. The firm currently has a $6.90 price target on the stock. Zacks‘s price objective would indicate a potential upside of 1.77% from the stock’s previous close.

Shares of TransGlobe Energy (NYSE:TGA) traded down 3.10% on Thursday, hitting $6.57. The stock had a trading volume of 70,404 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 $6.5 and a 200-day moving average of $7.11. The company has a market cap of $492.3 million and a price-to-earnings ratio of 7.63.

TransGlobe Energy (NYSE:TGA) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that TransGlobe Energy will post $0.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors 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 2.95%. The ex-dividend date of this dividend is Thursday, September 11th.

A number of other firms have also recently commented on TGA. Analysts at TD Securities cut their price target on shares of TransGlobe Energy to $10.50 in a research note on Friday, August 15th. Separately, 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, August 14th. They now have an “outperform” rating 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $10.49.

TransGlobe Energy Corporation (NYSE:TGA) is an independent international upstream oil and gas company.

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