TransGlobe Energy (TGA) Issues Quarterly Earnings Results

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) announced its quarterly earnings data on Thursday. The basic materials company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.27), Morningstar.com reports. The firm had revenue of $42.63 million for the quarter. TransGlobe Energy had a positive return on equity of 4.40% and a negative net margin of 5.01%.

NASDAQ:TGA traded down $0.05 on Friday, hitting $2.17. 167,938 shares of the stock were exchanged, compared to its average volume of 535,749. The stock has a market capitalization of $174.01 million, a P/E ratio of -7.75 and a beta of 1.20. TransGlobe Energy has a 52 week low of $1.21 and a 52 week high of $4.13. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.30.

Several brokerages have weighed in on TGA. TheStreet raised TransGlobe Energy from a “d” rating to a “c” rating in a report on Friday, September 7th. BidaskClub cut TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research cut TransGlobe Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, ValuEngine raised TransGlobe Energy from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.75.

Large investors have recently made changes to their positions in the business. ClariVest Asset Management LLC bought a new stake in TransGlobe Energy during the 3rd quarter worth about $138,000. BlackRock Inc. grew its position in shares of TransGlobe Energy by 276.4% during the 3rd quarter. BlackRock Inc. now owns 52,702 shares of the basic materials company’s stock worth $176,000 after buying an additional 38,700 shares during the period. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of TransGlobe Energy during the 2nd quarter worth about $207,000. Spark Investment Management LLC grew its position in shares of TransGlobe Energy by 113.0% during the 2nd quarter. Spark Investment Management LLC now owns 138,000 shares of the basic materials company’s stock worth $382,000 after buying an additional 73,200 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of TransGlobe Energy during the 2nd quarter worth about $732,000. 34.54% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “TransGlobe Energy (TGA) Issues Quarterly Earnings Results” was originally published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.thelincolnianonline.com/2018/11/10/transglobe-energy-tga-issues-quarterly-earnings-results.html.

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.

Further Reading: Float

Earnings History for TransGlobe Energy (NASDAQ:TGA)

Receive News & Ratings for TransGlobe Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransGlobe Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply