Gran Tierra Energy Inc (TSE:GTE) Rating Lowered to Hold at Zacks Investment Research
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, July 4th.
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. “
GTE has been the subject of a number of other reports. TD Securities reissued an “action list buy” rating and set a C$6.50 price objective on shares of Gran Tierra Energy in a research report on Friday, May 5th. Scotiabank reissued an “outperform” rating and set a C$6.00 price objective on shares of Gran Tierra Energy in a research report on Thursday, May 4th. Credit Suisse Group set a C$4.00 price objective on Gran Tierra Energy and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, Cormark began coverage on Gran Tierra Energy in a research report on Monday, March 20th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Gran Tierra Energy currently has an average rating of “Buy” and a consensus price target of C$4.91.
Gran Tierra Energy (TSE GTE) traded up 1.78% on Tuesday, reaching $2.86. 262,084 shares of the company’s stock were exchanged. The firm’s market cap is $1.14 billion. Gran Tierra Energy has a one year low of $2.65 and a one year high of $4.40. The firm has a 50 day moving average price of $2.87 and a 200 day moving average price of $3.27.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.54. Gran Tierra Energy had a return on equity of 5.52% and a net margin of 13.43%. The business had revenue of $94.66 million for the quarter, compared to analyst estimates of $101.70 million. On average, equities analysts anticipate that Gran Tierra Energy will post $0.15 earnings per share for the current year.
In other news, Director David Paul Smith bought 35,000 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of C$2.08 per share, with a total value of C$72,800.00. Also, insider Gmt Capital Corp bought 154,200 shares of the company’s stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of C$2.55 per share, with a total value of C$393,210.00. Over the last ninety days, insiders acquired 254,400 shares of company stock valued at $627,582.
Several institutional investors have recently made changes to their positions in GTE. Jane Street Group LLC increased its position in shares of Gran Tierra Energy by 10.4% in the first quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after buying an additional 3,818 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Gran Tierra Energy by 85.1% in the first quarter. Tower Research Capital LLC TRC now owns 40,689 shares of the company’s stock worth $107,000 after buying an additional 18,709 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of Gran Tierra Energy during the first quarter worth approximately $135,000. WFG Advisors LP increased its position in shares of Gran Tierra Energy by 34.5% in the fourth quarter. WFG Advisors LP now owns 2,589 shares of the company’s stock worth $150,000 after buying an additional 664 shares in the last quarter. Finally, Aperio Group LLC increased its position in shares of Gran Tierra Energy by 6.9% in the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after buying an additional 4,769 shares in the last quarter.
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.
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