TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 80,200 shares, a drop of 21.8% from the July 31st total of 102,500 shares. Based on an average daily trading volume, of 122,100 shares, the short-interest ratio is currently 0.7 days. Currently, 0.1% of the shares of the company are short sold.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in TransGlobe Energy by 58.6% during the second quarter. Royal Bank of Canada now owns 28,326 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 10,469 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in TransGlobe Energy by 3.6% during the second quarter. UBS Asset Management Americas Inc. now owns 717,421 shares of the basic materials company’s stock valued at $997,000 after purchasing an additional 25,021 shares in the last quarter. Jane Street Group LLC purchased a new position in TransGlobe Energy during the second quarter valued at $43,000. Citadel Advisors LLC purchased a new position in TransGlobe Energy during the second quarter valued at $46,000. Finally, Morgan Stanley lifted its position in TransGlobe Energy by 676.6% during the second quarter. Morgan Stanley now owns 5,006,884 shares of the basic materials company’s stock valued at $6,958,000 after purchasing an additional 4,362,197 shares in the last quarter. Institutional investors own 40.55% of the company’s stock.
Shares of TGA stock traded up $0.01 on Friday, reaching $1.44. The stock had a trading volume of 6,500 shares, compared to its average volume of 113,744. The stock has a market cap of $107.72 million, a P/E ratio of 3.18 and a beta of 1.10. TransGlobe Energy has a 1 year low of $1.29 and a 1 year high of $3.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.83 and a current ratio of 3.41. The company has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.64.
The business also recently announced a Semi-Annual dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.035 per share. The ex-dividend date is Thursday, August 29th. TransGlobe Energy’s dividend payout ratio (DPR) is presently 15.56%.
Separately, ValuEngine downgraded TransGlobe Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 20th.
About TransGlobe Energy
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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