NEW YORK ( TheStreet) -- Shares of TransGlobe Energy Corporation (Nasdaq: TGA) were gapping up Tuesday morning with an open price 12.6% higher than Friday's closing price. The stock closed at $11.51 Friday and opened today's trading at $12.96. The average volume for TransGlobe Energy has been 179,800 shares per day over the past 30 days. TransGlobe Energy has a market cap of $839 million and is part of the basic materials sector and energy industry. Shares are down 27.9% year to date as of the close of trading on Friday. TransGlobe Energy Corporation operates as an exploration and production company with oil interests in the Arab Republic of Egypt and the Republic of Yemen. It has interests in seven international blocks totaling 5.0 million acres. The company was formerly known as Dusty Mac Mines, Ltd. The company has a P/E ratio of 28.8, above the average energy industry P/E ratio of 27.4 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates TransGlobe Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full TransGlobe Energy Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.