Gran Tierra Energy Inc (NYSEAMERICAN:GTE) Receives $4.00 Consensus Target Price from Brokerages

Gran Tierra Energy Inc (NYSEAMERICAN:GTE) has received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $4.00.

GTE has been the topic of a number of research reports. Scotiabank downgraded Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a report on Wednesday, November 6th. National Bank Financial assumed coverage on Gran Tierra Energy in a report on Friday, October 11th. They set a “sector perform” rating on the stock. TheStreet downgraded Gran Tierra Energy from a “c” rating to a “d” rating in a report on Wednesday, November 6th. Canaccord Genuity set a $4.00 target price on Gran Tierra Energy and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Zacks Investment Research downgraded Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

Shares of Gran Tierra Energy stock traded up $0.01 during trading hours on Tuesday, reaching $1.01. The stock had a trading volume of 2,558,464 shares, compared to its average volume of 1,971,228. Gran Tierra Energy has a 1 year low of $0.97 and a 1 year high of $2.87.

In other Gran Tierra Energy news, Director David P. Smith acquired 205,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was purchased at an average price of $1.28 per share, for a total transaction of $262,400.00. Following the purchase, the director now directly owns 247,500 shares in the company, valued at $316,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gmt Capital Corp acquired 440,800 shares of the stock in a transaction on Thursday, August 29th. The shares were acquired at an average price of $1.34 per share, with a total value of $590,672.00. Following the purchase, the insider now owns 76,361,486 shares in the company, valued at $102,324,391.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,279,200 shares of company stock worth $2,798,889.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its position in shares of Gran Tierra Energy by 17.8% in the 2nd quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock worth $90,000 after acquiring an additional 8,500 shares in the last quarter. A.R.T. Advisors LLC grew its position in shares of Gran Tierra Energy by 43.3% in the 2nd quarter. A.R.T. Advisors LLC now owns 37,406 shares of the company’s stock worth $59,000 after acquiring an additional 11,300 shares in the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Gran Tierra Energy by 91.2% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 24,855 shares of the company’s stock worth $31,000 after acquiring an additional 11,855 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Gran Tierra Energy by 9.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 153,214 shares of the company’s stock worth $244,000 after acquiring an additional 13,404 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Gran Tierra Energy by 237.1% in the 2nd quarter. Wells Fargo & Company MN now owns 23,115 shares of the company’s stock worth $37,000 after acquiring an additional 16,257 shares in the last quarter.

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.

Featured Article: What is the Fibonacci sequence?

Analyst Recommendations for Gran Tierra Energy (NYSEAMERICAN:GTE)

Receive News & Ratings for Gran Tierra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gran Tierra Energy and related companies with MarketBeat.com's FREE daily email newsletter.