Gran Tierra Energy Inc (NYSEAMERICAN:GTE) to Post FY2020 Earnings of $0.08 Per Share, National Bank Financial Forecasts

Gran Tierra Energy Inc (NYSEAMERICAN:GTE) – Equities research analysts at National Bank Financial dropped their FY2020 earnings per share (EPS) estimates for shares of Gran Tierra Energy in a research note issued on Wednesday, November 6th. National Bank Financial analyst J. Hunt now expects that the company will post earnings of $0.08 per share for the year, down from their prior estimate of $0.11. National Bank Financial currently has a “Sector Perform” rating on the stock.

GTE has been the subject of a number of other research reports. Canaccord Genuity set a $4.00 price target on Gran Tierra Energy and gave the company a “buy” rating in a research report on Friday, August 30th. Scotiabank lowered Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a research report on Wednesday. TheStreet lowered Gran Tierra Energy from a “c” rating to a “d” rating in a research report on Wednesday. Finally, Zacks Investment Research lowered Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $3.58.

Shares of GTE traded down $0.02 during midday trading on Friday, reaching $1.05. The stock had a trading volume of 1,388,300 shares, compared to its average volume of 1,960,908. Gran Tierra Energy has a 12-month low of $0.97 and a 12-month high of $2.97.

Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $157.99 million during the quarter.

Several large investors have recently made changes to their positions in the business. Cornerstone Investment Partners LLC raised its stake in Gran Tierra Energy by 91.2% in the third quarter. Cornerstone Investment Partners LLC now owns 24,855 shares of the company’s stock worth $31,000 after buying an additional 11,855 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Gran Tierra Energy by 237.1% during the second quarter. Wells Fargo & Company MN now owns 23,115 shares of the company’s stock valued at $37,000 after buying an additional 16,257 shares during the last quarter. A.R.T. Advisors LLC grew its holdings in shares of Gran Tierra Energy by 43.3% during the second quarter. A.R.T. Advisors LLC now owns 37,406 shares of the company’s stock valued at $59,000 after buying an additional 11,300 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Gran Tierra Energy by 17.8% during the second quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock valued at $90,000 after buying an additional 8,500 shares during the last quarter. Finally, RWC Asset Management LLP purchased a new stake in shares of Gran Tierra Energy during the second quarter valued at $109,000.

In related news, CEO Gary Guidry purchased 60,200 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $1.06 per share, for a total transaction of $63,812.00. Following the completion of the transaction, the chief executive officer now owns 2,561,700 shares in the company, valued at approximately $2,715,402. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ryan Ellson purchased 35,300 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $1.08 per share, with a total value of $38,124.00. Following the transaction, the chief financial officer now owns 254,519 shares of the company’s stock, valued at approximately $274,880.52. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 961,300 shares of company stock valued at $1,260,258.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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