Zacks Investment Research downgraded shares of Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) from a hold rating to a strong sell rating in a report released on Wednesday, October 18th.
According to Zacks, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. “
A number of other brokerages also recently commented on GTE. Eight Capital lowered their price target on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a report on Wednesday, September 27th. 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 analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Gran Tierra Energy has a consensus rating of Buy and a consensus target price of C$4.88.
Shares of Gran Tierra Energy (TSE GTE) traded up 4.25% on Wednesday, hitting $2.70. 378,067 shares of the company were exchanged. The firm’s 50-day moving average is $2.69 and its 200-day moving average is $2.95. Gran Tierra Energy has a 52-week low of $2.41 and a 52-week high of $4.36. The stock’s market capitalization is $1.07 billion.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last issued its quarterly earnings results on Thursday, August 3rd. The company reported C($0.02) EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.06). The firm had revenue of C$96.13 million for the quarter, compared to analysts’ expectations of C$99.95 million. Gran Tierra Energy had a negative return on equity of 2.76% and a negative net margin of 7.08%. Equities research analysts predict that Gran Tierra Energy will post $0.07 earnings per share for the current year.
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In other news, Director Brooke N. Wade purchased 242,600 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 242,600 shares of the company’s stock, valued at C$560,406. Also, insider Gmt Capital Corp purchased 15,100 shares of the stock in a transaction dated Friday, September 1st. The shares were purchased at an average price of C$2.04 per share, with a total value of C$30,804.00. In the last quarter, insiders have acquired 338,100 shares of company stock valued at $760,048.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in Gran Tierra Energy by 85.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 40,689 shares of the company’s stock valued at $107,000 after acquiring an additional 18,709 shares during the last quarter. Jane Street Group LLC lifted its holdings in 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 acquiring an additional 3,818 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Gran Tierra Energy in the 2nd quarter valued at about $114,000. Aperio Group LLC lifted its holdings in 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 acquiring an additional 4,769 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Gran Tierra Energy in the 1st quarter valued at about $182,000.
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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