Gran Tierra Energy (GTE) Price Target Raised to C$5.50 at Canaccord Genuity

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) had its price objective lifted by Canaccord Genuity from C$5.00 to C$5.50 in a report released on Wednesday morning.

A number of other equities research analysts also recently issued reports on GTE. Scotiabank reissued an outperform rating and set a C$5.50 price target on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. CIBC boosted their price target on Gran Tierra Energy from C$3.00 to C$3.50 in a research report on Tuesday, January 23rd. Eight Capital boosted their price target on Gran Tierra Energy from C$5.50 to C$6.25 in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada boosted their price target on Gran Tierra Energy from C$4.60 to C$4.80 and gave the company a top pick rating in a research report on Friday, March 2nd. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Gran Tierra Energy presently has an average rating of Buy and a consensus target price of C$4.85.

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Shares of TSE:GTE opened at C$3.68 on Wednesday. Gran Tierra Energy has a 52 week low of C$2.41 and a 52 week high of C$3.75.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last posted its quarterly earnings results on Tuesday, February 27th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.08 by C($0.03). Gran Tierra Energy had a negative net margin of 31.22% and a negative return on equity of 16.58%. The firm had revenue of C$161.53 million for the quarter, compared to analysts’ expectations of C$158.56 million.

In related news, Director Brooke Nelson Wade acquired 150,000 shares of Gran Tierra Energy stock in a transaction on Wednesday, March 7th. The shares were bought at an average price of C$2.56 per share, for a total transaction of C$384,000.00. Also, insider Gmt Capital Corp acquired 12,000 shares of Gran Tierra Energy stock in a transaction on Monday, January 29th. The shares were bought at an average price of C$2.88 per share, for a total transaction of C$34,560.00. In the last three months, insiders have acquired 221,680 shares of company stock valued at $579,215.

An institutional investor recently raised its position in Gran Tierra Energy stock. State Street Corp increased its holdings in Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 374,942 shares of the company’s stock after acquiring an additional 8,119 shares during the quarter. State Street Corp owned approximately 0.09% of Gran Tierra Energy worth $840,000 as of its most recent filing with the SEC.

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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, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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