Gran Tierra Energy Inc (NYSEAMERICAN:GTE) – Stock analysts at National Bank Financial cut their FY2020 earnings estimates for Gran Tierra Energy in a research note issued to investors on Wednesday, November 6th. National Bank Financial analyst J. Hunt now anticipates that the company will post earnings of $0.08 per share for the year, down from their prior estimate of $0.11. National Bank Financial has a “Sector Perform” rating on the stock.
Several other research analysts have also recently commented on the stock. TheStreet cut shares of Gran Tierra Energy from a “c” rating to a “d” rating in a report on Wednesday. Canaccord Genuity set a $4.00 target price on shares of Gran Tierra Energy and gave the stock a “buy” rating in a report on Friday, August 30th. Scotiabank cut shares of Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a report on Wednesday. Finally, Zacks Investment Research cut shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Gran Tierra Energy has an average rating of “Buy” and an average price target of $3.58.
Gran Tierra Energy (NYSEAMERICAN:GTE) last announced its earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $157.99 million during the quarter.
Several hedge funds have recently bought and sold shares of GTE. Cornerstone Investment Partners LLC raised its position in Gran Tierra Energy by 91.2% during the third quarter. Cornerstone Investment Partners LLC now owns 24,855 shares of the company’s stock valued at $31,000 after acquiring an additional 11,855 shares in the last quarter. Wells Fargo & Company MN raised its position in Gran Tierra Energy by 237.1% during the second quarter. Wells Fargo & Company MN now owns 23,115 shares of the company’s stock valued at $37,000 after acquiring an additional 16,257 shares in the last quarter. A.R.T. Advisors LLC raised its position in Gran Tierra Energy by 43.3% during the second quarter. A.R.T. Advisors LLC now owns 37,406 shares of the company’s stock valued at $59,000 after acquiring an additional 11,300 shares in the last quarter. Mackenzie Financial Corp raised its position in Gran Tierra Energy by 17.8% during the second quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock valued at $90,000 after acquiring an additional 8,500 shares in the last quarter. Finally, RWC Asset Management LLP bought a new position in Gran Tierra Energy during the second quarter valued at approximately $109,000.
In related news, Director Brooke N. Wade purchased 185,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $1.44 per share, for a total transaction of $266,400.00. Following the completion of the acquisition, the director now owns 260,200 shares in the company, valued at approximately $374,688. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary Guidry purchased 60,200 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $1.06 per share, with a total value of $63,812.00. Following the completion of the acquisition, the chief executive officer now owns 2,561,700 shares of the company’s stock, valued at approximately $2,715,402. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 961,300 shares of company stock valued at $1,260,258.
About Gran Tierra Energy
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, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.
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