Canaccord Genuity Reaffirms Buy Rating for TransGlobe Energy (LON:TGL)

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Canaccord Genuity reissued their buy rating on shares of TransGlobe Energy (LON:TGL) in a report issued on Monday morning, Digital Look reports. Canaccord Genuity currently has a GBX 265 ($3.46) price objective on the stock.

LON:TGL opened at GBX 119 ($1.55) on Monday. TransGlobe Energy has a fifty-two week low of GBX 105 ($1.37) and a fifty-two week high of GBX 274 ($3.58). The stock has a market capitalization of $79.43 million and a P/E ratio of 5.06. The company has a debt-to-equity ratio of 24.14, a quick ratio of 2.00 and a current ratio of 2.47. The company’s 50-day simple moving average is GBX 116.49 and its 200-day simple moving average is GBX 135.19.

The company also recently declared a dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.04 dividend. This represents a dividend yield of 2.44%. The ex-dividend date is Thursday, August 29th. TransGlobe Energy’s dividend payout ratio is currently 0.47%.

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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