Gran Tierra Energy Inc (TSE:GTE) Stock Rating Lowered by Zacks Investment Research
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
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. “
Other research analysts also recently issued reports about the stock. TD Securities reissued an “action list buy” rating and set a C$6.50 price objective on shares of Gran Tierra Energy in a research report on Friday, May 5th. Credit Suisse Group set a C$4.00 price objective on shares of Gran Tierra Energy and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, Scotiabank reissued an “outperform” rating and set a C$6.00 price objective on shares of Gran Tierra Energy in a research report on Thursday, May 4th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of C$4.91.
Shares of Gran Tierra Energy (TSE:GTE) traded down 0.70% on Monday, reaching $2.84. 161,075 shares of the company were exchanged. The firm’s market capitalization is $1.13 billion. Gran Tierra Energy has a 12-month low of $2.65 and a 12-month high of $4.40. The company’s 50 day moving average is $2.90 and its 200 day moving average is $3.31.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.54. The business had revenue of $94.66 million for the quarter, compared to the consensus estimate of $101.70 million. Gran Tierra Energy had a net margin of 13.43% and a return on equity of 5.52%. Analysts forecast that Gran Tierra Energy will post $0.13 earnings per share for the current year.
In other Gran Tierra Energy news, insider Gmt Capital Corp bought 154,200 shares of Gran Tierra Energy stock in a transaction dated Monday, May 15th. The shares were purchased at an average cost of C$2.55 per share, with a total value of C$393,210.00. Also, Director David Paul Smith bought 35,000 shares of Gran Tierra Energy stock in a transaction dated Wednesday, June 21st. The stock was acquired at an average cost of C$2.08 per share, for a total transaction of C$72,800.00. Insiders bought a total of 404,350 shares of company stock worth $981,022 over the last ninety days.
Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in Gran Tierra Energy by 10.4% in the first quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after buying an additional 3,818 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in 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 worth $107,000 after buying an additional 18,709 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Gran Tierra Energy during the first quarter worth $135,000. Aperio Group LLC increased its stake in Gran Tierra Energy by 6.9% in the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after buying an additional 4,769 shares in the last quarter. Finally, Deltec Asset Management LLC increased its stake in Gran Tierra Energy by 17.2% in the first quarter. Deltec Asset Management LLC now owns 68,250 shares of the company’s stock worth $180,000 after buying an additional 10,000 shares in 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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