Gran Tierra Energy (GTE) Trading 5% Higher

Shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) traded up 5% during mid-day trading on Wednesday . The stock traded as high as $2.52 and last traded at $2.52. 3,318,797 shares were traded during trading, an increase of 128% from the average session volume of 1,456,076 shares. The stock had previously closed at $2.40.

Several analysts have recently issued reports on the company. Zacks Investment Research cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Citigroup reaffirmed a “buy” rating on shares of Gran Tierra Energy in a report on Monday, December 17th. Finally, GMP Securities cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $4.38.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its quarterly earnings data on Wednesday, February 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.09). The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $154.40 million. Gran Tierra Energy’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share.

In related news, VP Lawrence West bought 12,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of $2.31 per share, with a total value of $27,720.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rodger Derrick Trimble bought 16,800 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $2.34 per share, for a total transaction of $39,312.00. Following the transaction, the vice president now owns 84,650 shares in the company, valued at approximately $198,081. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Gran Tierra Energy in the 4th quarter valued at $12,493,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in Gran Tierra Energy by 4.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,843,536 shares of the company’s stock valued at $8,340,000 after acquiring an additional 173,488 shares during the last quarter. Millennium Management LLC grew its position in Gran Tierra Energy by 856.5% in the 4th quarter. Millennium Management LLC now owns 201,386 shares of the company’s stock valued at $437,000 after acquiring an additional 180,332 shares during the last quarter. Legal & General Group Plc grew its position in Gran Tierra Energy by 94.0% in the 4th quarter. Legal & General Group Plc now owns 129,405 shares of the company’s stock valued at $282,000 after acquiring an additional 62,687 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Gran Tierra Energy by 10.6% in the 4th quarter. Jane Street Group LLC now owns 48,144 shares of the company’s stock valued at $104,000 after acquiring an additional 4,600 shares during the last quarter.

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Gran Tierra Energy Company Profile (NYSEAMERICAN:GTE)

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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