TransGlobe Energy Co. (NASDAQ:TGA) (TSE:TGL) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 80,200 shares, a decline of 21.8% from the July 31st total of 102,500 shares. Based on an average trading volume of 122,100 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company’s shares are sold short.
NASDAQ TGA traded up $0.01 during trading hours on Friday, hitting $1.44. 6,500 shares of the company were exchanged, compared to its average volume of 113,744. The stock has a 50-day moving average price of $1.41 and a 200 day moving average price of $1.64. The company has a quick ratio of 2.83, a current ratio of 3.41 and a debt-to-equity ratio of 0.22. TransGlobe Energy has a 52 week low of $1.29 and a 52 week high of $3.70. The stock has a market cap of $107.72 million, a PE ratio of 3.18 and a beta of 1.10.
TransGlobe Energy (NASDAQ:TGA) (TSE:TGL) last announced its earnings results on Monday, August 12th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter. TransGlobe Energy had a return on equity of 4.01% and a net margin of 8.65%. The business had revenue of $43.07 million during the quarter. As a group, sell-side analysts anticipate that TransGlobe Energy will post 0.82 earnings per share for the current year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.035 per share. The ex-dividend date is Thursday, August 29th. TransGlobe Energy’s dividend payout ratio (DPR) is presently 15.56%.
Several large investors have recently made changes to their positions in TGA. Sunbelt Securities Inc. boosted its holdings in shares of TransGlobe Energy by 42.2% in the second quarter. Sunbelt Securities Inc. now owns 30,951 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 9,181 shares during the period. Royal Bank of Canada boosted its holdings in shares of TransGlobe Energy by 58.6% in the second quarter. Royal Bank of Canada now owns 28,326 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 10,469 shares during the period. Private Advisor Group LLC boosted its holdings in shares of TransGlobe Energy by 57.0% in the second quarter. Private Advisor Group LLC now owns 34,804 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 12,629 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of TransGlobe Energy by 0.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,219,412 shares of the basic materials company’s stock valued at $3,108,000 after purchasing an additional 15,187 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of TransGlobe Energy by 3.6% in the second quarter. UBS Asset Management Americas Inc. now owns 717,421 shares of the basic materials company’s stock valued at $997,000 after purchasing an additional 25,021 shares during the period. Institutional investors and hedge funds own 40.55% of the company’s stock.
Separately, ValuEngine cut TransGlobe Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 20th.
About TransGlobe Energy
TransGlobe Energy Corporation, together with its subsidiaries, engages in the exploration, development, and production of crude oil and natural gas in Egypt and Canada. The company holds an interest in five production sharing concessions, including West Gharib, West Bakr, South Alamein, NW Gharib, and South Ghazalat, Egypt; and owns production and working interests in facilities in the Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west central Alberta, Canada.
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