Renaissance Technologies LLC boosted its holdings in shares of TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 52.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,919,767 shares of the basic materials company’s stock after buying an additional 1,004,367 shares during the period. Renaissance Technologies LLC’s holdings in TransGlobe Energy were worth $8,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in TGA. Russell Investments Group Ltd. increased its holdings in shares of TransGlobe Energy by 58.4% in the first quarter. Russell Investments Group Ltd. now owns 660,837 shares of the basic materials company’s stock valued at $887,000 after purchasing an additional 243,649 shares during the period. CIBC World Markets Inc. acquired a new position in shares of TransGlobe Energy in the first quarter valued at about $112,000. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of TransGlobe Energy in the second quarter valued at about $207,000. Acadian Asset Management LLC acquired a new position in shares of TransGlobe Energy in the second quarter valued at about $732,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of TransGlobe Energy by 570.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,235 shares of the basic materials company’s stock valued at $1,935,000 after purchasing an additional 595,000 shares during the period. 34.60% of the stock is currently owned by institutional investors.
TGA has been the topic of a number of research reports. ValuEngine raised TransGlobe Energy from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research raised TransGlobe Energy from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Thursday, June 28th. BidaskClub lowered TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Finally, TheStreet raised TransGlobe Energy from a “d” rating to a “c” rating in a report on Friday, September 7th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $2.75.
Shares of TGA stock opened at $3.28 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $241.16 million, a PE ratio of -11.71 and a beta of 0.92. TransGlobe Energy Co. has a fifty-two week low of $1.21 and a fifty-two week high of $4.13.
TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last posted its earnings results on Tuesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.28). The company had revenue of $68.45 million for the quarter. TransGlobe Energy had a positive return on equity of 4.40% and a negative net margin of 5.01%. Research analysts anticipate that TransGlobe Energy Co. will post 0.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 4.27%. This is a positive change from TransGlobe Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, August 30th. TransGlobe Energy’s dividend payout ratio (DPR) is -14.29%.
TransGlobe Energy Company Profile
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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