Gran Tierra Energy Inc (GTE) Given “Buy” Rating at Scotiabank
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Scotiabank in a note issued to investors on Tuesday. They presently have a C$5.50 target price on the stock. Scotiabank’s price target indicates a potential upside of 157.01% from the company’s previous close.
A number of other equities analysts also recently weighed in on GTE. Eight Capital dropped their target price on Gran Tierra Energy from C$6.50 to C$5.25 in a report on Wednesday, September 27th. Zacks Investment Research cut Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$4.88.
Gran Tierra Energy (TSE GTE) remained flat at $2.69 during midday trading on Tuesday. The company had a trading volume of 134,279 shares. The firm’s market capitalization is $1.06 billion. The stock has a 50-day moving average price of $2.66 and a 200 day moving average price of $3.02. Gran Tierra Energy has a 52 week low of $2.41 and a 52 week high of $4.40.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last issued its earnings results on Thursday, August 3rd. The company reported C($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.06). The business had revenue of C$96.13 million during the quarter, compared to analyst estimates of C$99.95 million. Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. On average, equities analysts expect that Gran Tierra Energy will post $0.06 earnings per share for the current fiscal year.
In related news, insider Gmt Capital Corp bought 22,700 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of C$2.19 per share, with a total value of C$49,713.00. Also, Director Brooke N. Wade bought 242,600 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were bought 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 directly owns 242,600 shares of the company’s stock, valued at C$560,406. The disclosure for this purchase can be found here. In the last three months, insiders purchased 338,100 shares of company stock valued at $760,048.
Institutional investors have recently made changes to their positions in the business. KCG Holdings Inc. boosted its position in Gran Tierra Energy by 30.0% during the first quarter. KCG Holdings Inc. now owns 111,290 shares of the company’s stock worth $294,000 after purchasing an additional 25,714 shares during the period. OppenheimerFunds Inc. boosted its position in Gran Tierra Energy by 13.5% during the first quarter. OppenheimerFunds Inc. now owns 148,940 shares of the company’s stock worth $393,000 after purchasing an additional 17,765 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Gran Tierra Energy during the first quarter worth approximately $6,936,000. Deltec Asset Management LLC boosted its position in Gran Tierra Energy by 73.3% during the second quarter. Deltec Asset Management LLC now owns 118,250 shares of the company’s stock worth $265,000 after purchasing an additional 50,000 shares during the period. Finally, Parkwood LLC boosted its position in Gran Tierra Energy by 44.9% during the second quarter. Parkwood LLC now owns 117,743 shares of the company’s stock worth $264,000 after purchasing an additional 36,505 shares during the period.
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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