TransGlobe Energy (TGA) Rating Lowered to Sell at ValuEngine

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday, November 2nd.

Several other research firms have also weighed in on TGA. TheStreet raised TransGlobe Energy from a “d” rating to a “c” rating in a research note on Friday, September 7th. BidaskClub lowered TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Finally, Zacks Investment Research lowered TransGlobe Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $2.75.

NASDAQ TGA traded down $0.05 on Friday, reaching $2.17. 167,938 shares of the stock traded hands, compared to its average volume of 535,749. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.67 and a current ratio of 2.92. The firm has a market cap of $174.01 million, a P/E ratio of -7.75 and a beta of 1.20. TransGlobe Energy has a 12 month low of $1.21 and a 12 month high of $4.13.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last issued its quarterly earnings results on Thursday, November 8th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.27). The firm had revenue of $42.63 million for the quarter. TransGlobe Energy had a negative net margin of 5.01% and a positive return on equity of 4.40%. On average, research analysts predict that TransGlobe Energy will post 0.51 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGA. EAM Global Investors LLC purchased a new stake in shares of TransGlobe Energy in the third quarter valued at $3,663,000. Renaissance Technologies LLC lifted its holdings in shares of TransGlobe Energy by 52.4% in the second quarter. Renaissance Technologies LLC now owns 2,919,767 shares of the basic materials company’s stock valued at $8,087,000 after purchasing an additional 1,004,367 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TransGlobe Energy by 570.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,235 shares of the basic materials company’s stock valued at $1,935,000 after purchasing an additional 595,000 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of TransGlobe Energy in the third quarter valued at $1,692,000. Finally, FMR LLC raised its holdings in shares of TransGlobe Energy by 147.6% during the third quarter. FMR LLC now owns 835,035 shares of the basic materials company’s stock worth $2,786,000 after acquiring an additional 497,780 shares in the last quarter. Institutional investors own 34.54% of the company’s stock.

About TransGlobe Energy

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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