Gran Tierra Energy Inc (GTE) Raised to “Buy” at Zacks Investment Research
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a C$2.50 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.12% from the stock’s current price.
According to Zacks, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. “
A number of other equities research analysts also recently commented on GTE. Cormark started coverage on Gran Tierra Energy in a research report on Monday, March 20th. They issued a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating and issued a C$6.00 price objective on shares of Gran Tierra Energy in a research report on Friday, March 24th. Credit Suisse Group set a C$4.00 price objective on Gran Tierra Energy and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, TD Securities reaffirmed an “action list buy” rating and issued a C$6.50 price objective on shares of Gran Tierra Energy in a research report on Friday, May 5th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of C$4.91.
Shares of Gran Tierra Energy (TSE:GTE) traded down 0.36% on Tuesday, hitting $2.80. The stock had a trading volume of 400,162 shares. Gran Tierra Energy has a one year low of $2.65 and a one year high of $4.40. The firm’s 50-day moving average is $2.93 and its 200-day moving average is $3.33. The company’s market cap is $1.12 billion.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.54. The business had revenue of $94.66 million during the quarter, compared to the consensus estimate of $101.70 million. Gran Tierra Energy had a return on equity of 5.52% and a net margin of 13.43%. On average, analysts expect that Gran Tierra Energy will post $0.13 EPS for the current fiscal year.
In other news, Director David Paul Smith purchased 35,000 shares of the stock in a transaction on Wednesday, June 21st. The stock was purchased at an average price of C$2.08 per share, with a total value of C$72,800.00. Also, CFO Ryan Ellson purchased 16,000 shares of the stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of C$2.38 per share, with a total value of C$38,080.00. Following the transaction, the chief financial officer now owns 236,030 shares of the company’s stock, valued at approximately C$561,751.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 439,150 shares of company stock valued at $1,068,370.
A number of large investors have recently bought and sold shares of GTE. WFG Advisors LP increased its stake in shares of Gran Tierra Energy by 34.5% in the fourth quarter. WFG Advisors LP now owns 2,589 shares of the company’s stock valued at $150,000 after buying an additional 664 shares during the last quarter. Roanoke Asset Management Corp NY bought a new stake in shares of Gran Tierra Energy during the second quarter valued at $101,000. Jane Street Group LLC increased its stake in shares of Gran Tierra Energy by 10.4% in the first quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock valued at $107,000 after buying an additional 3,818 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Gran Tierra Energy by 85.1% in the first quarter. Tower Research Capital LLC TRC now owns 40,689 shares of the company’s stock valued at $107,000 after buying an additional 18,709 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Gran Tierra Energy by 20.3% in the second quarter. Teacher Retirement System of Texas now owns 41,554 shares of the company’s stock valued at $140,000 after buying an additional 7,023 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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