Gran Tierra Energy (GTE) Releases Earnings Results, Beats Estimates By $0.12 EPS

Gran Tierra Energy (NYSEAMERICAN:GTE) posted its quarterly earnings data on Thursday. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.12, Briefing.com reports. The business had revenue of $175.10 million during the quarter, compared to analyst estimates of $177.00 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The company’s revenue was up 68.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 earnings per share.

NYSEAMERICAN:GTE opened at $2.95 on Friday. Gran Tierra Energy has a 1-year low of $2.05 and a 1-year high of $3.96.

GTE has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Gran Tierra Energy in a research report on Friday, July 20th. They issued an “outperform” rating and a $5.50 price objective for the company. Zacks Investment Research lowered shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. Gran Tierra Energy has a consensus rating of “Hold” and a consensus price target of $4.50.

In other news, Director David P. Smith acquired 77,500 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was acquired at an average price of $3.39 per share, with a total value of $262,725.00. Following the completion of the transaction, the director now directly owns 142,500 shares in the company, valued at approximately $483,075. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

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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Earnings History for Gran Tierra Energy (NYSEAMERICAN:GTE)

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