Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE)‘s stock had its “outperform” rating restated by stock analysts at Scotiabank in a research report issued to clients and investors on Friday, November 3rd. They currently have a C$5.50 price target on the stock. Scotiabank’s price target suggests a potential upside of 99.28% from the company’s current price.
Several other equities research analysts also recently weighed in on GTE. Zacks Investment Research raised Gran Tierra Energy from a “hold” rating to a “buy” rating and set a C$2.50 price objective on the stock in a report on Tuesday, July 18th. Eight Capital cut their price objective on Gran Tierra Energy from C$6.50 to C$5.25 in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of C$4.88.
Shares of Gran Tierra Energy (TSE:GTE) opened at C$2.76 on Friday. Gran Tierra Energy has a twelve month low of C$2.41 and a twelve month high of C$4.36.
Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings data on Thursday, November 2nd. The company reported C$0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.05 by C($0.04). Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The firm had revenue of C$103.77 million for the quarter, compared to analyst estimates of C$110.60 million. During the same period last year, the business earned ($0.71) EPS. The company’s revenue was up 51.4% compared to the same quarter last year.
In other Gran Tierra Energy news, Director Brooke N. Wade acquired 242,600 shares of the stock in a transaction dated Friday, September 29th. The stock was purchased at an average cost of C$2.31 per share, with a total value of C$560,406.00. Following the transaction, the director now owns 242,600 shares in the company, valued at approximately C$560,406. Also, insider Gmt Capital Corp acquired 15,100 shares of the stock in a transaction dated Friday, September 1st. The stock was acquired at an average cost of C$2.04 per share, with a total value of C$30,804.00. Insiders have acquired a total of 315,400 shares of company stock worth $710,335 over the last ninety days.
Several hedge funds have recently bought and sold shares of the company. GMT Capital Corp raised its position in shares of Gran Tierra Energy by 4.5% in the 3rd quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock worth $115,482,000 after acquiring an additional 2,195,500 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Gran Tierra Energy by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 9,383,209 shares of the company’s stock worth $24,772,000 after acquiring an additional 898,590 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Gran Tierra Energy by 40.6% in the 3rd quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock worth $20,141,000 after acquiring an additional 2,146,732 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Gran Tierra Energy by 2.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,881,657 shares of the company’s stock worth $15,415,000 after acquiring an additional 150,199 shares in the last quarter. Finally, Toronto Dominion Bank raised its position 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 in the last quarter.
Gran Tierra Energy Company Profile
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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