Gran Tierra Energy Inc. (TSE:GTE) (AMEX:GTE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.

According to Zacks, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. “

A number of other analysts have also recently commented on GTE. FirstEnergy Capital restated an “outperform” rating on shares of Gran Tierra Energy in a research report on Friday, August 12th. TD Securities restated an “action list buy” rating and issued a C$6.00 price target on shares of Gran Tierra Energy in a research report on Tuesday, November 8th. Scotiabank upped their price target on Gran Tierra Energy from C$5.25 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Canaccord Genuity restated a “buy” rating on shares of Gran Tierra Energy in a research report on Wednesday, September 14th. Finally, Paradigm Capital upped their price target on Gran Tierra Energy from C$4.75 to C$5.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of C$6.62.

Analyst Recommendations for Gran Tierra Energy (TSE:GTE)

Shares of Gran Tierra Energy (TSE:GTE) opened at 3.84 on Tuesday. The company’s market cap is $1.37 billion. The company has a 50-day moving average price of $4.01 and a 200-day moving average price of $3.88. Gran Tierra Energy has a 52-week low of $2.56 and a 52-week high of $4.44.

COPYRIGHT VIOLATION NOTICE: This report was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2016/12/01/zacks-investment-research-downgrades-gran-tierra-energy-inc-gte-to-strong-sell.html.

In related news, Director David P. Smith acquired 30,000 shares of the stock in a transaction dated Tuesday, November 29th. The stock was acquired at an average cost of C$3.00 per share, with a total value of C$90,000.00. Also, insider Susan Lynn Mawdsley acquired 36,000 shares of the stock in a transaction dated Wednesday, November 9th. The stock was bought at an average cost of C$2.98 per share, with a total value of C$107,280.00. Following the completion of the purchase, the insider now directly owns 15,500 shares in the company, valued at C$46,190. The disclosure for this purchase can be found here.

Large investors have recently bought and sold shares of the stock. Roanoke Asset Management Corp NY bought a new stake in Gran Tierra Energy during the second quarter valued at about $101,000. Capstone Investment Advisors LLC raised its stake in shares of Gran Tierra Energy by 8.5% in the second quarter. Capstone Investment Advisors LLC now owns 36,251 shares of the company’s stock worth $122,000 after buying an additional 2,851 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Gran Tierra Energy by 20.3% in the second quarter. Teacher Retirement System of Texas now owns 41,554 shares of the company’s stock worth $140,000 after buying an additional 7,023 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Gran Tierra Energy by 10.6% in the second quarter. Hsbc Holdings PLC now owns 41,489 shares of the company’s stock worth $140,000 after buying an additional 3,971 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Gran Tierra Energy during the second quarter worth about $155,000.

About Gran Tierra Energy

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.

Receive News & Stock Ratings for Gran Tierra Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gran Tierra Energy Inc. and related stocks with our FREE daily email newsletter.