TransAtlantic Petroleum Ltd (TAT)

[JohnCM]

Seeking Alpha

TransAtlantic Petroleum (TAT) is an international energy company engaged in the acquisition, development, exploration and production of oil and natural gas. The company holds interests in developed and undeveloped oil and gas properties in Turkey, Bulgaria and Romania.

"Insider buys

Mustafa Yavuz purchased 15,000 shares on December 6-26 and currently holds 60,000 shares or less than 0.1% of the company. Mustafa Yavuz is Chief Operating Officer of the company.
Malone Mitchell purchased 200,000 shares on December 26-27 and currently controls 146,272,058 shares or 39.7% of the company. Malone Mitchell is Chairman and Chief Executive Officer of the company.
Wil Saqueton purchased 5,000 shares on December 13 and currently holds 46,490 shares or less than 0.1% of the company. Wil Saqueton is Vice President & Chief Financial Officer of the company.
Chad Potter purchased 5,000 shares on December 6 and currently holds 44,651 shares or less than 0.1% of the company. Chad Potter is Vice President of the company.
Ian Delahunty purchased 8,400 shares on December 6 and currently holds 195,451 shares or less than 0.1% of the company. Ian Delahunty is Vice President, Business Development.
Financials

The company reported the third-quarter financial results on November 30 with the following highlights:

Revenue $33.0 million
Net income $7.0 million
Cash $26.2 million
Debt $32.8 million

Outlook

The company expects fourth quarter revenue to be between $30 million to $35 million; net income from continuing operations to be between a net loss of $3 million and net income of $3 million; total net income to be between $5 million to $10 million; and adjusted EBITDAX to be between $20 million to $25 million.

My analysis

The stock is trading close to its 52 -week lows. There have been six insider buy transactions and there have not been any insider sell transactions during the last 30 days. There is one analyst buy rating, three neutral ratings and 0 sell ratings for the company currently. The stock is trading at a forward P/E ratio of 10.33 and the company has a book value of $0.59 per share. The stock could be a good pick from the current level based on the fundamental picture."