Gran Tierra Energy Inc (GTE) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. “
Several other brokerages have also commented on GTE. Scotiabank reaffirmed a buy rating and issued a C$5.50 price objective on shares of Gran Tierra Energy in a research report on Tuesday, October 10th. Eight Capital decreased their price objective on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. One 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 company’s stock. The company has a consensus rating of Buy and a consensus price target of C$4.88.
Gran Tierra Energy (TSE:GTE) opened at 2.62 on Wednesday. The stock’s market capitalization is $1.03 billion. Gran Tierra Energy has a one year low of $2.41 and a one year high of $4.40. The firm has a 50-day moving average of $2.68 and a 200 day moving average of $2.97.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last announced its quarterly earnings data on Thursday, August 3rd. The company reported C($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.04 by C($0.06). The company had revenue of C$96.13 million during the quarter, compared to analysts’ expectations 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 research analysts anticipate that Gran Tierra Energy will post $0.06 earnings per share for the current fiscal year.
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In other Gran Tierra Energy news, Director Brooke N. Wade purchased 242,600 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 242,600 shares in the company, valued at C$560,406. Also, insider Gmt Capital Corp purchased 22,700 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of C$2.19 per share, for a total transaction of C$49,713.00. In the last quarter, insiders purchased 338,100 shares of company stock worth $760,048.
Large investors have recently modified their holdings of the stock. Jane Street Group LLC grew its stake in shares of Gran Tierra Energy by 10.4% during the 1st quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after purchasing an additional 3,818 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Gran Tierra Energy by 85.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 40,689 shares of the company’s stock worth $107,000 after purchasing an additional 18,709 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in shares of Gran Tierra Energy during the 2nd quarter worth approximately $114,000. Karp Capital Management Corp acquired a new stake in shares of Gran Tierra Energy during the 1st quarter worth approximately $182,000. Finally, Aperio Group LLC grew its stake in shares of Gran Tierra Energy by 6.9% during the 2nd quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after purchasing an additional 4,769 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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