Connor Clark & Lunn Investment Management Ltd. Has $5.87 Million Stake in TransGlobe Energy Co. (TGA)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 151.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,761,206 shares of the basic materials company’s stock after buying an additional 1,061,971 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 2.44% of TransGlobe Energy worth $5,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of TransGlobe Energy by 147.6% during the 3rd quarter. FMR LLC now owns 835,035 shares of the basic materials company’s stock worth $2,786,000 after buying an additional 497,780 shares during the last quarter. BlackRock Inc. increased its holdings in shares of TransGlobe Energy by 276.4% during the 3rd quarter. BlackRock Inc. now owns 52,702 shares of the basic materials company’s stock worth $176,000 after buying an additional 38,700 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of TransGlobe Energy by 6.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 3,046,788 shares of the basic materials company’s stock worth $10,171,000 after buying an additional 173,800 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of TransGlobe Energy by 3.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,585,000 shares of the basic materials company’s stock worth $22,073,000 after buying an additional 235,000 shares during the last quarter. Finally, EAM Global Investors LLC acquired a new stake in shares of TransGlobe Energy during the 3rd quarter worth approximately $3,663,000. 43.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ TGA opened at $2.16 on Monday. The company has a market cap of $155.96 million, a PE ratio of -7.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.59 and a quick ratio of 2.35. TransGlobe Energy Co. has a 1 year low of $1.21 and a 1 year high of $4.13.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its earnings results on Thursday, November 8th. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27). TransGlobe Energy had a negative net margin of 7.35% and a negative return on equity of 2.03%. The company had revenue of $42.63 million during the quarter. On average, sell-side analysts expect that TransGlobe Energy Co. will post 0.51 EPS for the current fiscal year.

A number of analysts have recently issued reports on TGA shares. BidaskClub downgraded shares of TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded shares of TransGlobe Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. TheStreet upgraded shares of TransGlobe Energy from a “d” rating to a “c” rating in a report on Friday, September 7th. Finally, Zacks Investment Research downgraded shares of TransGlobe Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $2.75.

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TransGlobe Energy Company Profile

TransGlobe Energy Corporation, together with its subsidiaries, explores for, develops, and produces crude oil, natural gas, and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South Alamein, South Ghazalat, and North West Sitra production sharing concessions.

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Institutional Ownership by Quarter for TransGlobe Energy (NASDAQ:TGA)

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