ValuEngine upgraded shares of TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) from a hold rating to a buy rating in a research report report published on Tuesday.

TGA has been the topic of a number of other reports. Royal Bank of Canada raised TransGlobe Energy from a sector perform rating to an outperform rating in a report on Thursday, May 17th. Zacks Investment Research downgraded TransGlobe Energy from a buy rating to a hold rating in a report on Saturday, June 23rd.

NASDAQ TGA opened at $3.32 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.67 and a current ratio of 2.92. The company has a market cap of $242.61 million, a price-to-earnings ratio of -11.86 and a beta of 0.97. TransGlobe Energy has a 1-year low of $1.07 and a 1-year high of $4.13.

TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last released its quarterly earnings data on Tuesday, August 14th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.28). The company had revenue of $68.45 million for the quarter. TransGlobe Energy had a negative net margin of 5.01% and a positive return on equity of 4.40%. sell-side analysts predict that TransGlobe Energy will post 0.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a $0.035 dividend. This is an increase from TransGlobe Energy’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, August 30th. TransGlobe Energy’s payout ratio is presently -14.29%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of TransGlobe Energy by 52.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,919,767 shares of the basic materials company’s stock worth $8,087,000 after acquiring an additional 1,004,367 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in TransGlobe Energy by 16.9% in the 1st quarter. Hillsdale Investment Management Inc. now owns 1,105,968 shares of the basic materials company’s stock worth $1,485,000 after purchasing an additional 159,600 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in TransGlobe Energy by 2,297.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 839,231 shares of the basic materials company’s stock worth $1,111,000 after purchasing an additional 804,231 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in TransGlobe Energy by 570.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,235 shares of the basic materials company’s stock worth $1,935,000 after purchasing an additional 595,000 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in TransGlobe Energy by 58.4% in the 1st quarter. Russell Investments Group Ltd. now owns 660,837 shares of the basic materials company’s stock worth $887,000 after purchasing an additional 243,649 shares during the last quarter. 34.60% of the stock is currently owned by institutional investors and hedge funds.

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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