Shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) have received a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.50.
Several analysts recently commented on GTE shares. GMP Securities downgraded shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research downgraded shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Scotiabank reissued a “buy” rating and set a $5.50 price objective on shares of Gran Tierra Energy in a research report on Friday, May 10th. Finally, Royal Bank of Canada downgraded shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research report on Tuesday.
In related news, VP Rodger Derrick Trimble purchased 16,800 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were purchased at an average price of $2.34 per share, with a total value of $39,312.00. Following the acquisition, the vice president now directly owns 84,650 shares in the company, valued at approximately $198,081. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Gmt Capital Corp purchased 6,444,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were bought at an average cost of $2.37 per share, for a total transaction of $15,274,176.00. Following the acquisition, the insider now owns 67,875,186 shares in the company, valued at $160,864,190.82. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 10,312,432 shares of company stock worth $24,318,000.
Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in shares of Gran Tierra Energy in the 1st quarter worth approximately $34,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Gran Tierra Energy in the 4th quarter worth approximately $41,000. WINTON GROUP Ltd lifted its stake in shares of Gran Tierra Energy by 219.4% in the 4th quarter. WINTON GROUP Ltd now owns 34,246 shares of the company’s stock worth $74,000 after purchasing an additional 23,524 shares during the period. Jane Street Group LLC lifted its stake in shares of Gran Tierra Energy by 182.8% in the 3rd quarter. Jane Street Group LLC now owns 43,544 shares of the company’s stock worth $166,000 after purchasing an additional 28,144 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Gran Tierra Energy in the 1st quarter worth approximately $114,000.
Shares of GTE stock opened at $1.96 on Tuesday. Gran Tierra Energy has a one year low of $1.92 and a one year high of $3.96.
Gran Tierra Energy (NYSEAMERICAN:GTE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). The company had revenue of $152.57 million for the quarter, compared to the consensus estimate of $148.50 million. During the same quarter last year, the business earned $0.05 earnings per share.
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, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.
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