Zacks Investment Research cut shares of TransGlobe Energy Co. (NASDAQ:TGA) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity restated a buy rating on shares of TransGlobe Energy in a research note on Thursday, September 15th. TD Securities restated a buy rating and issued a $3.75 price objective (up previously from $3.50) on shares of TransGlobe Energy in a research note on Monday, August 15th. Finally, Scotiabank restated a sector perform rating and issued a $3.50 price objective on shares of TransGlobe Energy in a research note on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $3.05.

TransGlobe Energy (NASDAQ:TGA) opened at 1.92 on Tuesday. The firm’s market cap is $138.63 million. The firm’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.80. TransGlobe Energy has a 52 week low of $1.00 and a 52 week high of $3.12.

TransGlobe Energy (NASDAQ:TGA) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.07. Equities analysts forecast that TransGlobe Energy will post ($0.50) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ifrah Financial Services Inc. increased its position in TransGlobe Energy by 2.7% in the second quarter. Ifrah Financial Services Inc. now owns 96,088 shares of the company’s stock valued at $176,000 after buying an additional 2,548 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of TransGlobe Energy by 25.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 116,539 shares of the company’s stock valued at $193,000 after buying an additional 23,328 shares in the last quarter. TFS Capital LLC increased its position in shares of TransGlobe Energy by 101.3% in the second quarter. TFS Capital LLC now owns 54,394 shares of the company’s stock valued at $100,000 after buying an additional 27,376 shares in the last quarter. Boston Partners increased its position in shares of TransGlobe Energy by 9.7% in the second quarter. Boston Partners now owns 398,841 shares of the company’s stock valued at $730,000 after buying an additional 35,195 shares in the last quarter. Finally, Van ECK Associates Corp increased its position 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 valued at $465,000 after buying an additional 41,266 shares in the last quarter.

TransGlobe Energy Company Profile

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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