Fmr LLC grew its position in shares of TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) by 1,249.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 337,255 shares of the basic materials company’s stock after acquiring an additional 312,255 shares during the period. Fmr LLC’s holdings in TransGlobe Energy were worth $934,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of TransGlobe Energy by 570.8% during 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 acquiring an additional 595,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of TransGlobe Energy in the 2nd quarter worth approximately $732,000. Spark Investment Management LLC boosted its position in shares of TransGlobe Energy by 113.0% in the 2nd quarter. Spark Investment Management LLC now owns 138,000 shares of the basic materials company’s stock worth $382,000 after purchasing an additional 73,200 shares in the last quarter. Finally, CIBC World Markets Inc. bought a new stake in shares of TransGlobe Energy in the 1st quarter worth approximately $112,000. Hedge funds and other institutional investors own 34.60% of the company’s stock.
Shares of TGA opened at $3.11 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 2.67 and a debt-to-equity ratio of 0.30. TransGlobe Energy Co. has a 52 week low of $1.21 and a 52 week high of $4.13. The company has a market capitalization of $241.16 million, a PE ratio of -11.11 and a beta of 0.92.
TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last issued its quarterly earnings results on Tuesday, August 14th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.28). TransGlobe Energy had a positive return on equity of 4.40% and a negative net margin of 5.01%. The company had revenue of $68.45 million during the quarter. As a group, analysts forecast that TransGlobe Energy Co. will post 0.51 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. ValuEngine cut TransGlobe Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised TransGlobe Energy from a “hold” rating to a “buy” rating and set a $2.75 price target on the stock in a research report on Thursday, June 28th. TheStreet raised TransGlobe Energy from a “d” rating to a “c” rating in a research report on Friday, September 7th. Finally, BidaskClub cut TransGlobe Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 20th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $2.75.
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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