Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) – Analysts at Cormark cut their FY2017 earnings per share estimates for shares of Gran Tierra Energy in a note issued to investors on Tuesday. Cormark analyst G. Ursu now forecasts that the company will post earnings of $0.18 per share for the year, down from their previous estimate of $0.30. Cormark also issued estimates for Gran Tierra Energy’s FY2019 earnings at $0.50 EPS.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last announced its earnings results on Thursday, August 3rd. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.06. Gran Tierra Energy had a return on equity of 5.52% and a net margin of 13.43%. The business had revenue of $96.13 million for the quarter, compared to analysts’ expectations of $99.95 million. TRADEMARK VIOLATION NOTICE: This news story was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/2797503/cormark-equities-analysts-decrease-earnings-estimates-for-gran-tierra-energy-inc-tsegte.html.
A number of other analysts have also recently weighed in on the company. Scotiabank restated an “outperform” rating and issued a C$6.00 price target on shares of Gran Tierra Energy in a research note on Thursday, May 4th. Zacks Investment Research cut Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 15th. TD Securities restated an “action list buy” rating and issued a C$6.50 price target on shares of Gran Tierra Energy in a research note on Friday, May 5th. Finally, Credit Suisse Group set a C$4.00 price target on Gran Tierra Energy and gave the company a “buy” rating in a research note on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$4.90.
Gran Tierra Energy (TSE:GTE) opened at 2.89 on Thursday. Gran Tierra Energy has a 52 week low of $2.65 and a 52 week high of $4.40. The company’s 50-day moving average price is $2.86 and its 200 day moving average price is $3.25. The stock’s market capitalization is $1.15 billion.
In related news, Director David Paul Smith purchased 35,000 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were purchased at an average price of C$2.08 per share, with a total value of C$72,800.00. Also, insider Gmt Capital Corp purchased 12,900 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of C$2.35 per share, for a total transaction of C$30,315.00. Insiders have bought 224,900 shares of company stock worth $553,716 in the last quarter.
Several institutional investors have recently added to or reduced their stakes in GTE. AQR Capital Management LLC raised its position in Gran Tierra Energy by 42.7% in the fourth quarter. AQR Capital Management LLC now owns 229,029 shares of the company’s stock worth $692,000 after buying an additional 68,577 shares in the last quarter. Norges Bank bought a new position in Gran Tierra Energy during the fourth quarter worth about $6,835,000. River Road Asset Management LLC raised its position in Gran Tierra Energy by 24.3% in the first quarter. River Road Asset Management LLC now owns 2,721,923 shares of the company’s stock worth $7,186,000 after buying an additional 532,710 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in Gran Tierra Energy by 131.6% in the first quarter. K.J. Harrison & Partners Inc now owns 1,025,400 shares of the company’s stock worth $2,707,000 after buying an additional 582,600 shares in the last quarter. Finally, Deltec Asset Management LLC raised its position in Gran Tierra Energy by 17.2% in the first quarter. Deltec Asset Management LLC now owns 68,250 shares of the company’s stock worth $180,000 after buying an additional 10,000 shares in the last quarter.
About Gran Tierra Energy
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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