Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE)‘s stock had its “buy” rating reaffirmed by equities researchers at Scotiabank in a report released on Tuesday. They presently have a C$5.50 price objective on the stock. Scotiabank’s price objective indicates a potential upside of 157.01% from the stock’s previous close.
Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Gran Tierra Energy from a “hold” rating to a “buy” rating and set a C$2.50 target price on the stock in a research report on Tuesday, July 18th. Eight Capital dropped their target price on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of C$4.88.
Shares of Gran Tierra Energy (TSE:GTE) opened at 2.66 on Tuesday. The firm’s market capitalization is $1.05 billion. Gran Tierra Energy has a 52-week low of $2.41 and a 52-week high of $4.40. The stock has a 50 day moving average of $2.66 and a 200 day moving average of $3.01.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last released its earnings results on Thursday, August 3rd. The company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C$0.04 by C($0.06). The firm had revenue of C$96.13 million during the quarter, compared to analysts’ expectations of C$99.95 million. Gran Tierra Energy had a negative return on equity of 2.76% and a negative net margin of 7.08%. On average, analysts predict that Gran Tierra Energy will post $0.06 EPS for the current fiscal year.
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In related news, insider Gmt Capital Corp acquired 22,700 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of C$2.19 per share, with a total value of C$49,713.00. Also, Director Brooke N. Wade acquired 242,600 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the transaction, the director now directly owns 242,600 shares of the company’s stock, valued at approximately C$560,406. The disclosure for this purchase can be found here. Insiders have purchased 338,100 shares of company stock worth $760,048 over the last ninety days.
A number of institutional investors and hedge funds have recently made changes to their positions in GTE. GMT Capital Corp lifted its stake in Gran Tierra Energy by 12.7% in the second quarter. GMT Capital Corp now owns 48,839,100 shares of the company’s stock valued at $104,570,000 after acquiring an additional 5,491,900 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Gran Tierra Energy in the first quarter valued at approximately $6,936,000. MARSHALL WACE ASIA Ltd acquired a new stake in Gran Tierra Energy in the first quarter valued at approximately $6,936,000. Vanguard Group Inc. lifted its stake in Gran Tierra Energy by 10.6% in the first quarter. Vanguard Group Inc. now owns 9,383,209 shares of the company’s stock valued at $24,772,000 after acquiring an additional 898,590 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Gran Tierra Energy by 298.6% in the first quarter. UBS Asset Management Americas Inc. now owns 675,733 shares of the company’s stock valued at $1,784,000 after acquiring an additional 506,192 shares during the last quarter.
Gran Tierra Energy Company Profile
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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