Gran Tierra Energy Inc (GTE) Given Consensus Recommendation of “Buy” by Brokerages
Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) has been assigned a consensus rating of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$5.31.
Several brokerages have recently weighed in on GTE. Eight Capital reduced their price target on Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. Scotiabank reiterated a “buy” rating and issued a C$5.50 price target on shares of Gran Tierra Energy in a research report on Tuesday, October 10th. Finally, Zacks Investment Research cut Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th.
In related news, Director Brooke N. Wade purchased 242,600 shares of Gran Tierra Energy stock in a transaction dated Friday, September 29th. The stock was bought at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the transaction, the director now owns 242,600 shares in the company, valued at C$560,406. Also, insider Gmt Capital Corp bought 14,600 shares of Gran Tierra Energy stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of C$2.10 per share, with a total value of C$30,660.00. Over the last quarter, insiders bought 342,500 shares of company stock valued at $774,188.
A number of institutional investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC grew its position 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 worth $258,000 after buying an additional 4,063 shares in the last quarter. Aperio Group LLC grew its position in Gran Tierra Energy by 6.9% during 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. State Street Corp grew its position in Gran Tierra Energy by 2.2% during the second quarter. State Street Corp now owns 374,942 shares of the company’s stock worth $840,000 after buying an additional 8,119 shares in the last quarter. Toronto Dominion Bank grew its position in Gran Tierra Energy by 0.4% during the second quarter. Toronto Dominion Bank now owns 5,891,616 shares of the company’s stock worth $13,084,000 after buying an additional 23,195 shares in the last quarter. Finally, Brandes Investment Partners LP grew its position in Gran Tierra Energy by 20.1% during the third quarter. Brandes Investment Partners LP now owns 151,959 shares of the company’s stock worth $346,000 after buying an additional 25,406 shares in the last quarter.
Shares of Gran Tierra Energy (TSE:GTE) opened at C$3.34 on Thursday. Gran Tierra Energy 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 released its earnings results on Thursday, November 2nd. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 prior year, the business earned ($0.71) earnings per share. The business’s quarterly revenue was up 51.4% compared to the same quarter last year.
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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