CIBC Boosts Gran Tierra Energy (GTE) Price Target to C$3.50

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) had its target price boosted by equities research analysts at CIBC from C$3.00 to C$3.50 in a research note issued to investors on Tuesday. CIBC’s price target suggests a potential upside of 1.45% from the company’s current price.

Other analysts have also issued reports about the stock. Eight Capital reduced their price objective on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research note on Wednesday, September 27th. Scotiabank restated an “outperform” rating and set a C$5.50 price objective on shares of Gran Tierra Energy in a research note on Tuesday, December 19th. Finally, Zacks Investment Research upgraded shares of Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$4.65.

Gran Tierra Energy (TSE GTE) traded down C$0.08 during trading hours on Tuesday, reaching C$3.45. 350,803 shares of the company’s stock were exchanged, compared to its average volume of 849,559. The company has a market cap of $1,370.00, a price-to-earnings ratio of -8.63 and a beta of 0.17. Gran Tierra Energy has a 1-year low of C$2.41 and a 1-year high of C$3.75.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings data on Thursday, November 2nd. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.04). The firm had revenue of C$103.77 million for the quarter, compared to the consensus estimate of C$110.60 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The firm’s revenue for the quarter was up 51.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.71) earnings per share.

In related news, insider Gmt Capital Corp purchased 15,800 shares of Gran Tierra Energy stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of C$2.10 per share, for a total transaction of C$33,180.00. Insiders bought 99,900 shares of company stock valued at $213,782 over the last quarter.

Several hedge funds have recently made changes to their positions in the company. Brandes Investment Partners LP grew its stake in shares of Gran Tierra Energy by 20.1% in the third quarter. Brandes Investment Partners LP now owns 151,959 shares of the company’s stock worth $346,000 after acquiring an additional 25,406 shares during the period. Schroder Investment Management Group grew its stake in shares of Gran Tierra Energy by 40.6% in the third quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock worth $20,141,000 after acquiring an additional 2,146,732 shares during the period. Concourse Capital Management LLC grew its stake in shares of Gran Tierra Energy by 28.7% in the third quarter. Concourse Capital Management LLC now owns 1,085,061 shares of the company’s stock worth $2,474,000 after acquiring an additional 242,140 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Gran Tierra Energy by 78.9% in the third quarter. JPMorgan Chase & Co. now owns 392,545 shares of the company’s stock worth $895,000 after acquiring an additional 173,178 shares during the period. Finally, GMT Capital Corp grew its stake in shares of Gran Tierra Energy by 4.5% in the third quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock worth $115,482,000 after acquiring an additional 2,195,500 shares during the period.

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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.

Analyst Recommendations for Gran Tierra Energy (TSE:GTE)

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