Gran Tierra Energy Inc (GTE) Shares Bought by Brandes Investment Partners LP
Brandes Investment Partners LP increased its stake in Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) by 20.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 151,959 shares of the company’s stock after buying an additional 25,406 shares during the quarter. Brandes Investment Partners LP’s holdings in Gran Tierra Energy were worth $346,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. BlueCrest Capital Management Ltd purchased a new stake in Gran Tierra Energy during the second quarter valued at about $114,000. Aperio Group LLC lifted its holdings in Gran Tierra Energy by 6.9% during the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock valued at $165,000 after purchasing an additional 4,769 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Gran Tierra Energy by 39.3% during the second quarter. Bank of Nova Scotia now owns 115,707 shares of the company’s stock valued at $257,000 after purchasing an additional 32,656 shares during the last quarter. Virtu KCG Holdings LLC lifted its holdings in Gran Tierra Energy by 3.7% during the second quarter. Virtu KCG Holdings LLC now owns 115,353 shares of the company’s stock valued at $258,000 after purchasing an additional 4,063 shares during the last quarter. Finally, Parkwood LLC lifted its holdings in Gran Tierra Energy by 44.9% during the second quarter. Parkwood LLC now owns 117,743 shares of the company’s stock valued at $264,000 after purchasing an additional 36,505 shares during the last quarter.
Shares of Gran Tierra Energy Inc (TSE:GTE) traded up C$0.04 during trading on Friday, hitting C$2.93. 1,089,448 shares of the stock were exchanged, compared to its average volume of 714,578. Gran Tierra Energy Inc has a 52-week low of C$2.41 and a 52-week high of C$4.18.
Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.04). Gran Tierra Energy had a return on equity of 1.28% and a net margin of 3.02%. The firm had revenue of C$103.77 million during the quarter, compared to analysts’ expectations of C$110.60 million. During the same period in the previous year, the company posted ($0.71) earnings per share. The company’s quarterly revenue was up 51.4% compared to the same quarter last year.
Several research firms have commented on GTE. Eight Capital dropped their price objective on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a report on Wednesday, September 27th. Zacks Investment Research downgraded shares of Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, Scotiabank reaffirmed an “outperform” rating and set a C$5.50 price objective on shares of Gran Tierra Energy in a report on Wednesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of C$4.88.
In other news, insider Gmt Capital Corp purchased 26,300 shares of the stock in a transaction dated Monday, September 11th. The shares were purchased at an average cost of C$2.07 per share, with a total value of C$54,441.00. Also, Director Brooke N. Wade purchased 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, for a total transaction of C$560,406.00. Following the completion of the acquisition, the director now owns 242,600 shares of the company’s stock, valued at approximately C$560,406. The disclosure for this purchase can be found here. Over the last three months, insiders bought 380,800 shares of company stock worth $849,132.
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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