TransGlobe Energy Co. (TGA) Downgraded by Zacks Investment Research to Sell
TransGlobe Energy Co. (NASDAQ:TGA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
Several other equities research analysts have also commented on the company. Canaccord Genuity restated a “buy” rating on shares of TransGlobe Energy in a research report on Thursday, September 15th. TD Securities restated a “buy” rating and set a $3.75 target price (up previously from $3.50) on shares of TransGlobe Energy in a research report on Monday, August 15th. Finally, Scotiabank restated a “sector perform” rating and set a $3.50 target price on shares of TransGlobe Energy in a research report on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. TransGlobe Energy has an average rating of “Hold” and a consensus price target of $3.05.
TransGlobe Energy (NASDAQ:TGA) opened at 1.98 on Tuesday. The company’s market capitalization is $142.97 million. The stock’s 50 day moving average price is $1.87 and its 200 day moving average price is $1.79. TransGlobe Energy has a 52 week low of $1.00 and a 52 week high of $3.12.
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TransGlobe Energy (NASDAQ:TGA) last announced its earnings results on Thursday, August 11th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.07. Analysts anticipate that TransGlobe Energy will post ($0.50) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in TGA. TFS Capital LLC increased its stake in shares of TransGlobe Energy by 101.3% in the second quarter. TFS Capital LLC now owns 54,394 shares of the company’s stock valued at $100,000 after buying an additional 27,376 shares during the period. Numeric Investors LLC bought a new stake in shares of TransGlobe Energy during the second quarter valued at approximately $101,000. Ifrah Financial Services Inc. increased its stake in shares of TransGlobe Energy by 2.7% in the second quarter. Ifrah Financial Services Inc. now owns 96,088 shares of the company’s stock valued at $176,000 after buying an additional 2,548 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of TransGlobe Energy by 25.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 116,539 shares of the company’s stock valued at $193,000 after buying an additional 23,328 shares during the period. Finally, Spark Investment Management LLC increased its stake in shares of TransGlobe Energy by 21.4% in the first quarter. Spark Investment Management LLC now owns 244,000 shares of the company’s stock valued at $407,000 after buying an additional 43,000 shares during the period.
About TransGlobe Energy
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.
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