Transglobe Energy (TGA) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Transglobe Energy (NASDAQ:TGA) (TSE:TGL) from a sell rating to a hold rating in a research note released on Friday.

According to Zacks, “TransGlobe Energy Corporation (TGA) is an oil exploration and production company. It is a Calgary-based, growth-oriented oil and gas exploration and development company. TransGlobe is dedicated on improving productivity through promoting good oilfield development and exploitation practices including the implementation of industry leading secondary and tertiary recovery methods as well as improvements to production and transportation infrastructure. The Company conducts its operations through the Arab Republic of Egypt segment. It is primarily engaged in oil exploration, development, production and the acquisition of properties. TransGlobe Energy Corporation, through its subsidiaries, explores for, develops, and produces crude oil and natural gas liquids in Egypt and Canada. It holds working interests in West Gharib, West Bakr, North West Gharib, South West Gharib, South East Gharib, South Ghazalat, South Alamein, and North West Sitra production sharing contracts. “

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Separately, ValuEngine downgraded shares of Transglobe Energy from a sell rating to a strong sell rating in a report on Sunday, December 31st.

Shares of NASDAQ:TGA traded up $0.03 during midday trading on Friday, reaching $1.29. The company had a trading volume of 78,377 shares, compared to its average volume of 44,338. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.26 and a current ratio of 2.63. The company has a market capitalization of $90.98, a P/E ratio of 21.00 and a beta of 0.82. Transglobe Energy has a 52-week low of $1.07 and a 52-week high of $1.85.

Transglobe Energy (NASDAQ:TGA) (TSE:TGL) last issued its quarterly earnings results on Wednesday, March 7th. The basic materials company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.13. The company had revenue of $72.95 million for the quarter, compared to the consensus estimate of $65.00 million. Transglobe Energy had a negative net margin of 43.56% and a positive return on equity of 1.43%. research analysts predict that Transglobe Energy will post -0.01 earnings per share for the current year.

An institutional investor recently raised its position in Transglobe Energy stock. Renaissance Technologies LLC raised its holdings in shares of Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,767,300 shares of the basic materials company’s stock after purchasing an additional 44,900 shares during the quarter. Renaissance Technologies LLC owned approximately 2.45% of Transglobe Energy worth $2,543,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 18.83% of the company’s stock.

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Transglobe Energy Company Profile

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

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