TransAtlantic Petroleum Ltd (TAT) Rating Lowered to Hold at TD Securities
TransAtlantic Petroleum Ltd (NYSE:TAT) (TSE:TNP) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.
Shares of TransAtlantic Petroleum (NYSE:TAT) traded down 0.68% during trading on Friday, hitting $1.45. 83,731 shares of the stock were exchanged. The firm’s market capitalization is $68.60 million. TransAtlantic Petroleum has a 52 week low of $0.71 and a 52 week high of $1.68. The firm has a 50 day moving average price of $1.42 and a 200 day moving average price of $1.18.
In other TransAtlantic Petroleum news, CEO Noah Malone Mitchell III bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The shares were acquired at an average cost of $1.35 per share, for a total transaction of $54,000.00. Following the transaction, the chief executive officer now directly owns 435,150 shares in the company, valued at $587,452.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have purchased 230,000 shares of company stock worth $290,000.
A hedge fund recently raised its stake in TransAtlantic Petroleum stock. Morgan Stanley boosted its position in TransAtlantic Petroleum Ltd (NYSE:TAT) (TSE:TNP) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,167 shares of the oil and natural gas company’s stock after buying an additional 117,154 shares during the period. Morgan Stanley owned about 1.07% of TransAtlantic Petroleum worth $703,000 at the end of the most recent quarter.
About TransAtlantic Petroleum
TransAtlantic Petroleum Ltd. is a holding company. The Company is an international oil and natural gas company engaged in acquisition, exploration, development and production. Its segments include Turkey and Bulgaria. The Company holds interests in approximately 880,000 and 567,000 net acres of developed and undeveloped oil and natural gas properties in Turkey and Bulgaria, respectively.
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