Gran Tierra Energy (NYSEAMERICAN:GTE) Reaches New 52-Week Low at $1.43

Shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) reached a new 52-week low during trading on Tuesday . The company traded as low as $1.43 and last traded at $1.45, with a volume of 132759 shares. The stock had previously closed at $1.48.

A number of equities analysts have commented on GTE shares. Zacks Investment Research raised shares of Gran Tierra Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Royal Bank of Canada cut shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research note on Tuesday, May 21st. Scotiabank reissued a “buy” rating and issued a $5.50 price target on shares of Gran Tierra Energy in a research note on Friday, May 10th. Canaccord Genuity reissued a “buy” rating on shares of Gran Tierra Energy in a research note on Thursday, June 20th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Gran Tierra Energy in a research note on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $4.38.

Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04). The company had revenue of $152.57 million for the quarter, compared to the consensus estimate of $148.50 million. During the same period in the prior year, the company earned $0.05 EPS.

In other news, CFO Ryan Ellson acquired 18,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were bought at an average cost of $1.61 per share, with a total value of $29,624.00. Following the transaction, the chief financial officer now owns 254,430 shares of the company’s stock, valued at approximately $409,632.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gmt Capital Corp acquired 1,141,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $2.18 per share, for a total transaction of $2,487,380.00. Following the completion of the transaction, the insider now directly owns 75,698,386 shares in the company, valued at approximately $165,022,481.48. The disclosure for this purchase can be found here. Insiders bought a total of 1,169,400 shares of company stock worth $2,533,104 over the last ninety days.

Hedge funds have recently made changes to their positions in the stock. Ninepoint Partners LP purchased a new stake in Gran Tierra Energy during the 1st quarter valued at about $5,048,000. Marshall Wace North America L.P. grew its position in Gran Tierra Energy by 881.0% during the 1st quarter. Marshall Wace North America L.P. now owns 217,786 shares of the company’s stock valued at $494,000 after purchasing an additional 195,586 shares during the last quarter. Norges Bank purchased a new stake in Gran Tierra Energy during the 4th quarter valued at about $12,493,000. Legal & General Group Plc grew its position in Gran Tierra Energy by 94.0% during the 4th quarter. Legal & General Group Plc now owns 129,405 shares of the company’s stock valued at $282,000 after purchasing an additional 62,687 shares during the last quarter. Finally, BlackRock Inc. grew its position in Gran Tierra Energy by 17.5% during the 4th quarter. BlackRock Inc. now owns 842,703 shares of the company’s stock valued at $1,828,000 after purchasing an additional 125,417 shares during the last quarter.

About Gran Tierra Energy (NYSEAMERICAN:GTE)

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: Liquidity

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