Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) posted its quarterly earnings results on Thursday. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.05 by C($0.04), Briefing.com reports. Gran Tierra Energy had a negative return on equity of 2.76% and a negative net margin of 7.08%. The firm had revenue of C$103.77 million for the quarter, compared to the consensus estimate of C$110.60 million. During the same period last year, the company posted ($0.71) earnings per share. The business’s revenue was up 51.4% compared to the same quarter last year.

In related news, Director Brooke N. Wade purchased 242,600 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average cost of C$2.31 per share, with a total value of C$560,406.00. Following the acquisition, the director now owns 242,600 shares of the company’s stock, valued at C$560,406. Also, insider Gmt Capital Corp purchased 22,700 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of C$2.19 per share, for a total transaction of C$49,713.00. Insiders purchased a total of 338,100 shares of company stock worth $760,048 over the last three months.

An institutional investor recently raised its position in Gran Tierra Energy stock. State Street Corp increased its stake in Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) by 2.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 374,942 shares of the company’s stock after buying an additional 8,119 shares during the quarter. State Street Corp owned 0.09% of Gran Tierra Energy worth $840,000 at the end of the most recent quarter.

Several analysts have issued reports on GTE shares. Zacks Investment Research raised shares of Gran Tierra Energy from a “hold” rating to a “buy” rating and set a C$2.50 price target on the stock in a research report on Tuesday, July 18th. Eight Capital dropped their price target on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. Finally, Scotiabank reaffirmed a “buy” rating and set a C$5.50 price target on shares of Gran Tierra Energy in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$4.88.

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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.

Earnings History for Gran Tierra Energy (TSE:GTE)

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