Gran Tierra Energy (NYSEAMERICAN:GTE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $3.25 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.84% from the company’s current price.
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. “
Separately, BMO Capital Markets initiated coverage on shares of Gran Tierra Energy in a research report on Friday, July 20th. They set an “outperform” rating and a $5.50 target price for the company. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $4.38.
Shares of NYSEAMERICAN GTE traded down $0.09 during midday trading on Tuesday, reaching $2.83. 1,826,372 shares of the company’s stock traded hands, compared to its average volume of 1,544,618. Gran Tierra Energy has a one year low of $2.05 and a one year high of $3.96.
Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.12. The business had revenue of $175.10 million for the quarter, compared to the consensus estimate of $177.00 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Gran Tierra Energy’s revenue for the quarter was up 68.7% on a year-over-year basis.
In other news, Director David P. Smith bought 77,500 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was bought 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 of the company’s stock, valued at approximately $483,075. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rational Advisors LLC purchased a new position in shares of Gran Tierra Energy in the second quarter worth $193,000. UBS Group AG raised its holdings in shares of Gran Tierra Energy by 383.3% during the first quarter. UBS Group AG now owns 61,479 shares of the company’s stock worth $172,000 after purchasing an additional 48,759 shares during the last quarter. AMP Capital Investors Ltd purchased a new position in shares of Gran Tierra Energy during the second quarter worth $234,000. Aperio Group LLC raised its holdings in shares of Gran Tierra Energy by 27.1% during the second quarter. Aperio Group LLC now owns 75,986 shares of the company’s stock worth $262,000 after purchasing an additional 16,186 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Gran Tierra Energy by 666.8% during the first quarter. Allianz Asset Management GmbH now owns 179,551 shares of the company’s stock worth $501,000 after purchasing an additional 156,136 shares during the last quarter.
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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