Gran Tierra Energy Inc (GTE) Short Interest Down 7.7% in September

Gran Tierra Energy Inc (NYSEAMERICAN:GTE) was the target of a large decrease in short interest in September. As of September 14th, there was short interest totalling 4,507,564 shares, a decrease of 7.7% from the August 31st total of 4,884,221 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 1,420,568 shares, the short-interest ratio is presently 3.2 days.

GTE has been the topic of several research reports. Zacks Investment Research raised Gran Tierra Energy from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Monday, August 20th. BMO Capital Markets assumed coverage on Gran Tierra Energy in a research report on Friday, July 20th. They set an “outperform” rating and a $5.50 price target on the stock. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Gran Tierra Energy currently has a consensus rating of “Hold” and a consensus price target of $4.50.

Shares of NYSEAMERICAN GTE opened at $3.73 on Friday. Gran Tierra Energy has a 1-year low of $1.98 and a 1-year high of $3.93.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its earnings results on Thursday, August 2nd. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.04). Gran Tierra Energy had a return on equity of 1.28% and a net margin of 3.02%. The company had revenue of $163.45 million during the quarter, compared to analyst estimates of $155.78 million. During the same period in the prior year, the business earned ($0.02) earnings per share. Gran Tierra Energy’s quarterly revenue was up 70.0% on a year-over-year basis.

In other news, Director David P. Smith purchased 77,500 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were acquired at an average cost of $3.39 per share, with a total value of $262,725.00. Following the transaction, the director now owns 142,500 shares in the company, valued at approximately $483,075. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rational Advisors LLC acquired a new stake in Gran Tierra Energy in the second quarter worth $193,000. UBS Group AG increased its position in Gran Tierra Energy by 383.3% in the first quarter. UBS Group AG now owns 61,479 shares of the company’s stock worth $172,000 after buying an additional 48,759 shares during the period. AMP Capital Investors Ltd acquired a new stake in Gran Tierra Energy in the second quarter worth $234,000. Aperio Group LLC increased its position in Gran Tierra Energy by 27.1% in the second quarter. Aperio Group LLC now owns 75,986 shares of the company’s stock worth $262,000 after buying an additional 16,186 shares during the period. Finally, A.R.T. Advisors LLC increased its position in Gran Tierra Energy by 72.8% in the first quarter. A.R.T. Advisors LLC now owns 162,292 shares of the company’s stock worth $452,000 after buying an additional 68,400 shares during the period.

Gran Tierra Energy Company Profile

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.

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