Gran Tierra Energy Inc (GTE) Earns Outperform Rating from Scotiabank
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE)‘s stock had its “outperform” rating reiterated by investment analysts at Scotiabank in a research note issued to investors on Friday. They currently have a C$5.50 target price on the stock. Scotiabank’s price target indicates a potential upside of 95.73% from the stock’s previous close.
Several other analysts have also recently weighed in on GTE. Zacks Investment Research raised shares of Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, October 27th. Eight Capital lowered their price objective 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 hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of C$4.88.
Gran Tierra Energy (TSE:GTE) traded down C$0.08 during trading on Friday, hitting C$2.81. 1,074,700 shares of the stock traded hands. Gran Tierra Energy has a twelve month low of C$2.41 and a twelve month high of C$4.36.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last posted its quarterly earnings results on Thursday, November 2nd. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.05 by C($0.04). Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The firm had revenue of C$103.77 million during the quarter, compared to analysts’ expectations of C$110.60 million. During the same period last year, the company earned ($0.71) EPS. The business’s quarterly revenue was up 51.4% on a year-over-year basis.
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In other news, Director Brooke N. Wade acquired 242,600 shares of Gran Tierra Energy stock in a transaction dated Friday, September 29th. The shares were acquired at an average cost of C$2.31 per share, for a total transaction 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 acquired 22,700 shares of Gran Tierra Energy stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of C$2.19 per share, for a total transaction of C$49,713.00. Insiders acquired a total of 338,100 shares of company stock valued at $760,048 in the last three months.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of Gran Tierra Energy by 10.4% in the 1st quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock valued at $107,000 after purchasing an additional 3,818 shares in the last quarter. Virtu KCG Holdings LLC raised its holdings in shares of Gran Tierra Energy by 3.7% in the 2nd quarter. Virtu KCG Holdings LLC now owns 115,353 shares of the company’s stock valued at $258,000 after purchasing an additional 4,063 shares in the last quarter. Aperio Group LLC raised its holdings in shares of Gran Tierra Energy by 6.9% in the 2nd quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock valued at $165,000 after purchasing an additional 4,769 shares in the last quarter. State Street Corp raised its holdings in shares of Gran Tierra Energy by 2.2% in the 2nd quarter. State Street Corp now owns 374,942 shares of the company’s stock valued at $840,000 after purchasing an additional 8,119 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Gran Tierra Energy by 13.5% in the 1st quarter. OppenheimerFunds Inc. now owns 148,940 shares of the company’s stock valued at $393,000 after purchasing an additional 17,765 shares in the last quarter.
About Gran Tierra Energy
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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