NEW YORK ( TheStreet) -- Shares of TransGlobe Energy Corporation (Nasdaq: TGA) were gapping up Tuesday morning with an open price 15.8% higher than Monday's closing price. The stock closed at $8.27 Monday and opened today's trading at $9.58.

The average volume for TransGlobe Energy has been 161,300 shares per day over the past 30 days. TransGlobe Energy has a market cap of $666.4 million and is part of the basic materials sector and energy industry. Shares are down 48.2% year to date as of the close of trading on Monday.

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 five million acres. The company was formerly known as Dusty Mac Mines, Ltd. The company has a P/E ratio of 22.8, above the average energy industry P/E ratio of 21.7 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, expanding profit margins, solid stock price performance 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.

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