Canaccord Genuity Reaffirms Buy Rating for TransGlobe Energy (LON:TGL)

Canaccord Genuity reiterated their buy rating on shares of TransGlobe Energy (LON:TGL) in a research report report published on Monday morning, Digital Look reports. The brokerage currently has a GBX 265 ($3.46) price objective on the stock.

Shares of TGL opened at GBX 119 ($1.55) on Monday. TransGlobe Energy has a twelve month low of GBX 105 ($1.37) and a twelve month high of GBX 274 ($3.58). The company has a market cap of $79.43 million and a P/E ratio of 5.06. The company has a current ratio of 2.47, a quick ratio of 2.00 and a debt-to-equity ratio of 24.14. The company’s fifty day simple moving average is GBX 116.49 and its 200-day simple moving average is GBX 135.19.

The company also recently announced a dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be paid a $0.04 dividend. This represents a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, August 29th. TransGlobe Energy’s dividend payout ratio is currently 0.47%.

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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