Gran Tierra Energy Inc (GTE) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) have earned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$5.35.
Several research analysts have commented on GTE shares. Zacks Investment Research upgraded shares of Gran Tierra Energy from a “hold” rating to a “strong-buy” rating and set a C$2.50 price objective for the company in a research report on Monday, July 3rd. Eight Capital decreased their target price on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research note on Wednesday, September 27th.
In other Gran Tierra Energy news, insider Gmt Capital Corp bought 26,300 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average price of C$2.07 per share, for a total transaction of C$54,441.00. Also, Director Brooke N. Wade bought 242,600 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was acquired at an average price of C$2.31 per share, for a total transaction of C$560,406.00. Following the acquisition, the director now directly owns 242,600 shares in the company, valued at C$560,406. The disclosure for this purchase can be found here. Insiders purchased a total of 338,100 shares of company stock worth $760,048 in the last 90 days.
A number of large investors have recently bought and sold shares of GTE. GMT Capital Corp increased its stake in Gran Tierra Energy by 12.7% in the 2nd quarter. GMT Capital Corp now owns 48,839,100 shares of the company’s stock valued at $104,570,000 after buying an additional 5,491,900 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Gran Tierra Energy in the 1st quarter valued at about $6,936,000. MARSHALL WACE ASIA Ltd purchased a new stake in Gran Tierra Energy in the 1st quarter valued at about $6,936,000. Vanguard Group Inc. increased its stake in Gran Tierra Energy by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 9,383,209 shares of the company’s stock valued at $24,772,000 after buying an additional 898,590 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Gran Tierra Energy by 298.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 675,733 shares of the company’s stock valued at $1,784,000 after buying an additional 506,192 shares during the last quarter.
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Gran Tierra Energy (GTE) opened at 2.69 on Friday. The firm’s market capitalization is $1.06 billion. Gran Tierra Energy has a one year low of $2.41 and a one year high of $4.40. The stock has a 50 day moving average price of $2.66 and a 200-day moving average price of $3.02.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last released its quarterly earnings results on Thursday, August 3rd. The company reported C($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.06). Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The business had revenue of C$96.13 million during the quarter, compared to analyst estimates of C$99.95 million. On average, equities analysts forecast that Gran Tierra Energy will post $0.06 earnings per share for the current year.
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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