Gran Tierra Energy Inc (NYSEAMERICAN:GTE) gapped up before the market opened on Tuesday . The stock had previously closed at $1.48, but opened at $1.54. Gran Tierra Energy shares last traded at $1.51, with a volume of 127,618 shares traded.

GTE has been the topic of several recent analyst reports. Zacks Investment Research upgraded Gran Tierra Energy from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Wednesday, August 21st. BMO Capital Markets restated a “buy” rating on shares of Gran Tierra Energy in a report on Wednesday, June 26th. Canaccord Genuity set a $4.00 price target on Gran Tierra Energy and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada cut Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.67.

Gran Tierra Energy (NYSEAMERICAN:GTE) last announced its earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $157.99 million for the quarter.

In other news, CFO Ryan Ellson bought 18,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were acquired at an average cost of $1.61 per share, with a total value of $29,624.00. Following the transaction, the chief financial officer now owns 254,430 shares of the company’s stock, valued at approximately $409,632.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gmt Capital Corp bought 440,800 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $1.34 per share, for a total transaction of $590,672.00. Following the completion of the transaction, the insider now directly owns 76,361,486 shares in the company, valued at approximately $102,324,391.24. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 859,200 shares of company stock worth $1,165,196.

Several institutional investors and hedge funds have recently modified their holdings of GTE. GMT Capital Corp increased its holdings in Gran Tierra Energy by 8.8% in the 1st quarter. GMT Capital Corp now owns 73,596,986 shares of the company’s stock valued at $167,473,000 after purchasing an additional 5,921,800 shares in the last quarter. Luminus Management LLC grew its stake in shares of Gran Tierra Energy by 19.2% during the second quarter. Luminus Management LLC now owns 27,815,359 shares of the company’s stock valued at $43,996,000 after acquiring an additional 4,486,398 shares in the last quarter. Invesco Ltd. grew its stake in shares of Gran Tierra Energy by 2.0% during the second quarter. Invesco Ltd. now owns 13,477,993 shares of the company’s stock valued at $21,429,000 after acquiring an additional 258,800 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Gran Tierra Energy by 3.9% during the second quarter. Vanguard Group Inc. now owns 11,959,930 shares of the company’s stock valued at $19,017,000 after acquiring an additional 453,966 shares in the last quarter. Finally, Moerus Capital Management LLC grew its stake in shares of Gran Tierra Energy by 11.5% during the first quarter. Moerus Capital Management LLC now owns 7,107,028 shares of the company’s stock valued at $16,185,000 after acquiring an additional 734,060 shares in the last quarter.

Gran Tierra Energy Company Profile (NYSEAMERICAN:GTE)

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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