Gran Tierra Energy (GTE) Sets New 1-Year High at $4.46

Shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$4.46 and last traded at C$4.43, with a volume of 619836 shares changing hands. The stock had previously closed at C$4.26.

A number of analysts have recently issued reports on the stock. CIBC lifted their price objective on shares of Gran Tierra Energy from C$4.00 to C$5.00 in a report on Friday. Scotiabank reiterated an “outperform” rating and issued a C$6.25 price objective on shares of Gran Tierra Energy in a report on Wednesday, May 2nd. Citigroup lifted their price objective on shares of Gran Tierra Energy from C$4.60 to C$5.10 in a report on Thursday, May 3rd. Canaccord Genuity lifted their price objective on shares of Gran Tierra Energy from C$5.00 to C$5.50 in a report on Wednesday, April 11th. Finally, Eight Capital lifted their price objective on shares of Gran Tierra Energy from C$5.50 to C$6.25 in a report on Tuesday, February 6th.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last issued its earnings results on Tuesday, May 1st. The company reported C$0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.11 by C($0.05). The firm had revenue of C$174.74 million for the quarter, compared to analyst estimates of C$167.77 million. Gran Tierra Energy had a negative return on equity of 16.58% and a negative net margin of 31.22%.

In other news, Director Brooke Nelson Wade bought 150,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were acquired at an average cost of C$2.56 per share, for a total transaction of C$384,000.00. Also, insider Gmt Capital Corp bought 24,200 shares of the stock in a transaction that occurred on Friday, April 6th. The shares were purchased at an average price of C$2.75 per share, for a total transaction of C$66,550.00. Over the last 90 days, insiders have purchased 212,780 shares of company stock worth $554,420.

About Gran Tierra Energy

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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