Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE)’s share price shot up 1.4% during trading on Tuesday . The company traded as high as C$3.02 and last traded at C$2.95. 698,943 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 711,420 shares. The stock had previously closed at C$2.91.

A number of brokerages have recently commented on GTE. Scotiabank reaffirmed an “outperform” rating and issued a C$5.50 target price on shares of Gran Tierra Energy in a report on Tuesday. Eight Capital cut their target price on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a report on Wednesday, September 27th. Finally, Zacks Investment Research raised shares of Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of C$4.79.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its quarterly earnings data on Thursday, November 2nd. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.05 by C($0.04). The firm had revenue of C$103.77 million during the quarter, compared to analyst estimates of C$110.60 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The business’s quarterly revenue was up 51.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.71) earnings per share.

In related news, insider Gmt Capital Corp bought 14,600 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of C$2.10 per share, for a total transaction of C$30,660.00. 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 price of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the transaction, the director now directly owns 242,600 shares in the company, valued at approximately C$560,406. The disclosure for this purchase can be found here. Insiders have acquired a total of 342,500 shares of company stock worth $774,188 over the last 90 days.

Hedge funds and other institutional investors have recently modified their holdings of the business. GMT Capital Corp boosted its position in shares of Gran Tierra Energy by 4.5% in the 3rd quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock worth $115,482,000 after buying an additional 2,195,500 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Gran Tierra Energy by 40.6% in the 3rd quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock worth $20,141,000 after buying an additional 2,146,732 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Gran Tierra Energy by 2.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,881,657 shares of the company’s stock worth $15,415,000 after buying an additional 150,199 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Gran Tierra Energy by 0.4% in the 2nd 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, The Manufacturers Life Insurance Company boosted its position in shares of Gran Tierra Energy by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,471,070 shares of the company’s stock worth $7,695,000 after buying an additional 99,228 shares in the last quarter.

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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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