Gran Tierra Energy Inc (GTE) Trading Up 3.1%

Shares of Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) traded up 3.1% during mid-day trading on Friday . The company traded as high as C$2.71 and last traded at C$2.69. 114,056 shares were traded during trading, a decline of 77% from the average session volume of 490,487 shares. The stock had previously closed at C$2.61.

A number of analysts have recently issued reports on the company. Scotiabank reaffirmed a “buy” rating and set a C$5.50 target price on shares of Gran Tierra Energy in a research report on Tuesday. Zacks Investment Research lowered Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, Eight Capital dropped their target price on Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Gran Tierra Energy currently has a consensus rating of “Buy” and an average target price of C$4.88.

Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last posted its quarterly earnings data on Thursday, August 3rd. The company reported C($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.06). Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The firm had revenue of C$96.13 million during the quarter, compared to the consensus estimate of C$99.95 million.

In related news, insider Gmt Capital Corp bought 14,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of C$2.06 per share, with a total value of C$29,252.00. Also, Director Brooke N. Wade bought 242,600 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the purchase, the director now owns 242,600 shares of the company’s stock, valued at C$560,406. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 338,100 shares of company stock worth $760,048.

A number of hedge funds and other institutional investors have recently modified their holdings of GTE. Tower Research Capital LLC TRC boosted its stake in Gran Tierra Energy by 85.1% during the first quarter. Tower Research Capital LLC TRC now owns 40,689 shares of the company’s stock worth $107,000 after acquiring an additional 18,709 shares in the last quarter. Jane Street Group LLC boosted its stake in Gran Tierra Energy by 10.4% during the first quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after acquiring an additional 3,818 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in Gran Tierra Energy during the second quarter worth $114,000. Aperio Group LLC boosted its stake in Gran Tierra Energy by 6.9% during the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after acquiring an additional 4,769 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Gran Tierra Energy during the first quarter worth $182,000.

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Gran Tierra Energy Company Profile

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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