Gran Tierra Energy Inc (NYSEAMERICAN:GTE) shares rose 0.8% during mid-day trading on Tuesday . The stock traded as high as $3.71 and last traded at $3.74. Approximately 154,745 shares changed hands during trading, a decline of 90% from the average daily volume of 1,544,345 shares. The stock had previously closed at $3.77.
GTE has been the subject of several analyst reports. BMO Capital Markets initiated coverage on Gran Tierra Energy in a research report on Friday, July 20th. They set an “outperform” rating and a $5.50 price objective for the company. Zacks Investment Research cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Gran Tierra Energy has a consensus rating of “Hold” and an average target price of $4.50.
Gran Tierra Energy (NYSEAMERICAN:GTE) last announced its earnings results on Thursday, August 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $163.45 million during the quarter, compared to analyst estimates of $155.78 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The firm’s revenue for the quarter was up 70.0% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp raised its stake in Gran Tierra Energy by 95.0% during the 2nd quarter. Northern Trust Corp now owns 821,782 shares of the company’s stock valued at $2,835,000 after acquiring an additional 400,260 shares during the last quarter. GMT Capital Corp raised its stake in Gran Tierra Energy by 7.6% during the 2nd quarter. GMT Capital Corp now owns 63,043,306 shares of the company’s stock valued at $218,060,000 after acquiring an additional 4,478,500 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in Gran Tierra Energy by 23.8% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,218,900 shares of the company’s stock valued at $11,105,000 after acquiring an additional 618,200 shares during the last quarter. Vident Investment Advisory LLC purchased a new stake in Gran Tierra Energy during the 2nd quarter valued at approximately $638,000. Finally, AMP Capital Investors Ltd purchased a new stake in Gran Tierra Energy during the 2nd quarter valued at approximately $234,000.
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, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.
See Also: Earnings Per Share
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