Shares of Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) have been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$5.22.
Several research analysts recently commented on the company. Scotiabank set a C$5.75 price objective on Gran Tierra Energy and gave the company an “outperform” rating in a research note on Thursday, February 1st. Eight Capital increased their price objective on Gran Tierra Energy from C$5.50 to C$6.25 in a research note on Tuesday. CIBC increased their price objective on Gran Tierra Energy from C$3.00 to C$3.50 in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research downgraded Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th.
In related news, insider Gmt Capital Corp bought 14,600 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average cost of C$2.10 per share, with a total value of C$30,660.00. Insiders acquired a total of 111,900 shares of company stock valued at $248,342 over the last ninety days.
Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu KCG Holdings LLC increased its stake 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 worth $258,000 after acquiring an additional 4,063 shares during the last quarter. State Street Corp increased its stake 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 worth $840,000 after acquiring an additional 8,119 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Gran Tierra Energy by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,891,616 shares of the company’s stock worth $13,084,000 after acquiring an additional 23,195 shares during the last quarter. Brandes Investment Partners LP increased its stake in shares of Gran Tierra Energy by 20.1% in the 3rd 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 last quarter. Finally, Bank of Nova Scotia increased its stake in shares of Gran Tierra Energy by 39.3% in the 2nd quarter. Bank of Nova Scotia now owns 115,707 shares of the company’s stock worth $257,000 after acquiring an additional 32,656 shares during the last quarter.
Gran Tierra Energy (TSE:GTE) opened at C$3.09 on Friday. Gran Tierra Energy has a 52 week low of C$2.41 and a 52 week high of C$3.75. The company has a market capitalization of $1,230.00, a price-to-earnings ratio of -7.73 and a beta of 0.19.
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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.
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