Brokerages Set Gran Tierra Energy Inc. (GTE) PT at $6.25

Gran Tierra Energy Inc. (TSE:GTE) (AMEX:GTE) has been assigned a consensus rating of “Buy” from the eighteen research firms that are currently covering the stock. Fourteen analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$6.25.

GTE has been the subject of a number of recent research reports. CIBC lowered their price objective on Gran Tierra Energy from C$4.75 to C$4.50 in a research note on Wednesday, January 25th. Goldman Sachs Group Inc upped their price objective on Gran Tierra Energy from C$3.80 to C$3.90 in a research note on Friday, December 16th. TD Securities lowered their price objective on Gran Tierra Energy from C$7.00 to C$6.50 in a research note on Friday, February 10th. Canaccord Genuity set a C$5.00 price objective on Gran Tierra Energy and gave the stock a “buy” rating in a research note on Monday, January 23rd. Finally, Zacks Investment Research upgraded Gran Tierra Energy from a “strong sell” rating to a “buy” rating and set a C$3.50 price objective for the company in a research note on Tuesday, January 3rd.

In other Gran Tierra Energy news, insider Gmt Capital Corp purchased 18,100 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of C$2.56 per share, with a total value of C$46,336.00. Also, Director Brooke N. Wade purchased 142,600 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of C$2.59 per share, with a total value of C$369,334.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 245,900 shares of company stock valued at $646,363.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GLG Partners LP raised its stake in shares of Gran Tierra Energy by 185.6% in the fourth quarter. GLG Partners LP now owns 44,241 shares of the company’s stock valued at $134,000 after buying an additional 28,751 shares during the period. WFG Advisors LP raised its stake in shares of Gran Tierra Energy by 34.5% in the fourth quarter. WFG Advisors LP now owns 2,589 shares of the company’s stock valued at $150,000 after buying an additional 664 shares during the period. Virginia Retirement Systems ET AL raised its stake in shares of Gran Tierra Energy by 28.4% in the third quarter. Virginia Retirement Systems ET AL now owns 58,800 shares of the company’s stock valued at $177,000 after buying an additional 13,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Gran Tierra Energy by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 73,509 shares of the company’s stock valued at $222,000 after buying an additional 8,624 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Gran Tierra Energy by 8.3% in the third quarter. Great West Life Assurance Co. Can now owns 82,540 shares of the company’s stock valued at $246,000 after buying an additional 6,350 shares during the period.

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Gran Tierra Energy (TSE:GTE) opened at 3.35 on Thursday. Gran Tierra Energy has a 1-year low of $2.98 and a 1-year high of $4.44. The stock’s 50 day moving average price is $3.43 and its 200 day moving average price is $3.75. The firm’s market cap is $1.34 billion.

Gran Tierra Energy (TSE:GTE) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.37. Equities research analysts predict that Gran Tierra Energy will post $0.12 EPS for the current year.

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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