Gran Tierra Energy (NYSEAMERICAN:GTE) PT Lowered to $2.20 at Citigroup

Share on StockTwits

Gran Tierra Energy (NYSEAMERICAN:GTE) had its price objective cut by Citigroup from $2.50 to $2.20 in a report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s target price points to a potential upside of 134.04% from the company’s current price.

GTE has been the subject of a number of other reports. Zacks Investment Research lowered shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. National Bank Financial assumed coverage on shares of Gran Tierra Energy in a research note on Friday, October 11th. They set a “sector perform” rating for the company. TheStreet lowered shares of Gran Tierra Energy from a “c” rating to a “d” rating in a research note on Wednesday, November 6th. Scotiabank lowered shares of Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, November 6th. Finally, Canaccord Genuity set a $4.00 target price on shares of Gran Tierra Energy and gave the company a “buy” rating in a research note on Friday, August 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Gran Tierra Energy presently has an average rating of “Buy” and an average target price of $3.24.

Shares of GTE opened at $0.94 on Thursday. Gran Tierra Energy has a 12-month low of $0.94 and a 12-month high of $2.85.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its earnings results on Tuesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.07). The firm had revenue of $132.49 million for the quarter.

In other news, major shareholder Gmt Capital Corp acquired 753,491 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was purchased at an average cost of $1.30 per share, for a total transaction of $979,538.30. Following the completion of the acquisition, the insider now directly owns 77,590,386 shares of the company’s stock, valued at approximately $100,867,501.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lawrence West acquired 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $1.11 per share, with a total value of $38,850.00. Following the completion of the acquisition, the vice president now directly owns 292,030 shares of the company’s stock, valued at $324,153.30. The disclosure for this purchase can be found here. Insiders purchased 2,279,200 shares of company stock valued at $2,798,889 over the last 90 days.

Several hedge funds have recently added to or reduced their stakes in the stock. River Road Asset Management LLC raised its holdings in Gran Tierra Energy by 23.0% in the third quarter. River Road Asset Management LLC now owns 1,877,532 shares of the company’s stock worth $2,347,000 after purchasing an additional 351,690 shares in the last quarter. California Public Employees Retirement System raised its holdings in Gran Tierra Energy by 5.8% in the third quarter. California Public Employees Retirement System now owns 423,200 shares of the company’s stock worth $529,000 after purchasing an additional 23,200 shares in the last quarter. Cornerstone Investment Partners LLC raised its holdings in Gran Tierra Energy by 91.2% in the third quarter. Cornerstone Investment Partners LLC now owns 24,855 shares of the company’s stock worth $31,000 after purchasing an additional 11,855 shares in the last quarter. Foundry Partners LLC raised its holdings in Gran Tierra Energy by 6.1% in the third quarter. Foundry Partners LLC now owns 2,845,444 shares of the company’s stock worth $3,557,000 after purchasing an additional 162,414 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Gran Tierra Energy by 17.8% in the second quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock worth $90,000 after purchasing an additional 8,500 shares in 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, 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.

See Also: Why do companies engage in swaps?

The Fly

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.



Latest News

Financial Review: IGM Biosciences  and Advanz Pharma
Financial Review: IGM Biosciences and Advanz Pharma
Comparing Alphabet  & Chinanet Online
Comparing Alphabet & Chinanet Online
Head to Head Contrast: PDS Biotechnology  and FibroGen
Head to Head Contrast: PDS Biotechnology and FibroGen
Financial Comparison: Ultra Petroleum  vs. EP Energy
Financial Comparison: Ultra Petroleum vs. EP Energy
Analyzing ViacomCBS  & Its Peers
Analyzing ViacomCBS & Its Peers
Critical Analysis: Evergy  & Alliant Energy
Critical Analysis: Evergy & Alliant Energy


© 2006-2019 Ticker Report