TransGlobe Energy (TGA) Downgraded to “Sell” at ValuEngine

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, ValuEngine reports.

TGA stock opened at $1.67 on Monday. The company has a market capitalization of $125.49 million, a P/E ratio of 3.71 and a beta of 1.09. TransGlobe Energy has a 12-month low of $1.48 and a 12-month high of $4.13. The company has a current ratio of 2.47, a quick ratio of 2.51 and a debt-to-equity ratio of 0.23.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last released its quarterly earnings results on Monday, May 13th. The basic materials company reported ($0.12) earnings per share for the quarter. The firm had revenue of $69.22 million for the quarter. TransGlobe Energy had a net margin of 6.72% and a return on equity of 2.79%. As a group, analysts forecast that TransGlobe Energy will post 0.82 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in shares of TransGlobe Energy by 2.8% during the 1st quarter. Renaissance Technologies LLC now owns 2,987,736 shares of the basic materials company’s stock valued at $5,647,000 after buying an additional 81,269 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TransGlobe Energy by 1.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,204,225 shares of the basic materials company’s stock valued at $4,158,000 after buying an additional 36,100 shares during the period. FMR LLC lifted its holdings in shares of TransGlobe Energy by 29.3% during the 4th quarter. FMR LLC now owns 1,080,000 shares of the basic materials company’s stock valued at $2,009,000 after buying an additional 244,965 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of TransGlobe Energy by 73.5% during the 4th quarter. Acadian Asset Management LLC now owns 976,162 shares of the basic materials company’s stock valued at $1,825,000 after buying an additional 413,394 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of TransGlobe Energy by 116.8% during the 3rd quarter. Morgan Stanley now owns 844,168 shares of the basic materials company’s stock valued at $2,820,000 after buying an additional 454,876 shares during the period. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

TransGlobe Energy Company Profile

TransGlobe Energy Corporation, together with its subsidiaries, engages in the exploration, development, and production of crude oil and natural gas in Egypt and Canada. The company holds an interest in five production sharing concessions, including West Gharib, West Bakr, South Alamein, NW Gharib, and South Ghazalat, Egypt; and owns production and working interests in facilities in the Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west central Alberta, Canada.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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