Sunbelt Securities Inc. decreased its holdings in shares of Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,710 shares of the basic materials company’s stock after selling 5,345 shares during the quarter. Sunbelt Securities Inc. owned 0.11% of Transglobe Energy Corp worth $108,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Transglobe Energy Corp during the first quarter worth about $1,094,000. Renaissance Technologies LLC increased its stake in shares of Transglobe Energy Corp by 1.1% in the first quarter. Renaissance Technologies LLC now owns 1,621,400 shares of the basic materials company’s stock valued at $2,529,000 after buying an additional 17,300 shares during the period. Van ECK Associates Corp increased its stake in shares of Transglobe Energy Corp by 7.0% in the second quarter. Van ECK Associates Corp now owns 738,116 shares of the basic materials company’s stock valued at $985,000 after buying an additional 48,138 shares during the period. Finally, Cutter & CO Brokerage Inc. increased its stake in shares of Transglobe Energy Corp by 0.9% in the second quarter. Cutter & CO Brokerage Inc. now owns 117,978 shares of the basic materials company’s stock valued at $158,000 after buying an additional 1,100 shares during the period. 27.79% of the stock is owned by hedge funds and other institutional investors.
Transglobe Energy Corp (TGA) traded down 1.23% on Friday, hitting $1.60. The stock had a trading volume of 25,994 shares. The stock’s market capitalization is $115.53 million. Transglobe Energy Corp has a 1-year low of $1.07 and a 1-year high of $2.16. The company has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.38.
Transglobe Energy Corp (NASDAQ:TGA) (TSE:TGL) last announced its quarterly earnings results on Monday, August 14th. The basic materials company reported $0.06 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.08. The business had revenue of $40.44 million for the quarter. Transglobe Energy Corp had a negative return on equity of 10.87% and a negative net margin of 119.18%. Equities analysts predict that Transglobe Energy Corp will post ($0.34) earnings per share for the current year.
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TGA has been the subject of several recent research reports. ValuEngine downgraded Transglobe Energy Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded Transglobe Energy Corp from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, two have 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 a consensus price target of $3.50.
About Transglobe Energy Corp
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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