TransGlobe Energy Co. (NASDAQ:TGA)‘s stock had its “buy” rating reaffirmed by stock analysts at TD Securities in a research report issued on Wednesday. They currently have a $4.00 target price on the stock. TD Securities’ price target indicates a potential upside of 96.08% from the stock’s current price.
TGA has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of TransGlobe Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Scotiabank restated a “sector perform” rating and issued a $3.50 price target on shares of TransGlobe Energy in a research report on Saturday, June 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $4.00 price target (up previously from $3.00) on shares of TransGlobe Energy in a research report on Sunday, August 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $3.10.
TransGlobe Energy (NASDAQ:TGA) traded up 2.00% on Wednesday, reaching $2.04. 101,066 shares of the company were exchanged. The company’s 50-day moving average price is $1.94 and its 200-day moving average price is $1.81. TransGlobe Energy has a 12-month low of $1.00 and a 12-month high of $3.12. The stock’s market capitalization is $147.30 million.
TransGlobe Energy (NASDAQ:TGA) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.07. Equities research analysts anticipate that TransGlobe Energy will post ($0.50) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in shares of TransGlobe Energy by 27.1% in the first quarter. Renaissance Technologies LLC now owns 1,092,500 shares of the company’s stock worth $1,814,000 after buying an additional 233,100 shares during the period. Acadian Asset Management LLC raised its stake in shares of TransGlobe Energy by 210.5% in the second quarter. Acadian Asset Management LLC now owns 635,829 shares of the company’s stock worth $1,163,000 after buying an additional 431,065 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of TransGlobe Energy during the second quarter worth approximately $974,000. Boston Partners raised its stake in shares of TransGlobe Energy by 9.7% in the second quarter. Boston Partners now owns 398,841 shares of the company’s stock worth $730,000 after buying an additional 35,195 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of TransGlobe Energy by 19.5% in the second quarter. Van ECK Associates Corp now owns 252,574 shares of the company’s stock worth $465,000 after buying an additional 41,266 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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