Gran Tierra Energy (NYSEAMERICAN:GTE) Reaches New 1-Year Low at $1.31

Gran Tierra Energy Inc (NYSEAMERICAN:GTE) shares hit a new 52-week low on Monday . The company traded as low as $1.31 and last traded at $1.31, with a volume of 107554 shares trading hands. The stock had previously closed at $1.33.

Several research firms recently weighed in on GTE. BMO Capital Markets restated a “buy” rating on shares of Gran Tierra Energy in a report on Wednesday, June 26th. Canaccord Genuity restated a “buy” rating on shares of Gran Tierra Energy in a report on Thursday, June 20th. Scotiabank restated a “buy” rating and set a $5.50 target price on shares of Gran Tierra Energy in a report on Friday, May 10th. Zacks Investment Research upgraded shares of Gran Tierra Energy from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a report on Wednesday. Finally, Royal Bank of Canada lowered shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a report on Tuesday, May 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Gran Tierra Energy presently has an average rating of “Buy” and an average price target of $3.50.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $157.99 million during the quarter.



In related news, CFO Ryan Ellson acquired 18,400 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were purchased at an average price of $1.61 per share, for a total transaction of $29,624.00. Following the purchase, the chief financial officer now owns 254,430 shares in the company, valued at $409,632.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brooke N. Wade acquired 185,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $1.44 per share, for a total transaction of $266,400.00. Following the purchase, the director now owns 260,200 shares in the company, valued at approximately $374,688. The disclosure for this purchase can be found here. Insiders purchased a total of 213,400 shares of company stock worth $312,124 over the last quarter.

Hedge funds have recently bought and sold shares of the business. Renaissance Group LLC boosted its holdings in shares of Gran Tierra Energy by 3.2% during the 1st quarter. Renaissance Group LLC now owns 270,326 shares of the company’s stock worth $614,000 after buying an additional 8,362 shares during the period. Mackenzie Financial Corp boosted its holdings in Gran Tierra Energy by 17.8% in the 2nd quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock valued at $90,000 after purchasing an additional 8,500 shares during the period. A.R.T. Advisors LLC boosted its holdings in 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 valued at $59,000 after purchasing an additional 11,300 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in Gran Tierra Energy by 9.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 153,214 shares of the company’s stock valued at $244,000 after purchasing an additional 13,404 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Gran Tierra Energy by 237.1% in the 2nd quarter. Wells Fargo & Company MN now owns 23,115 shares of the company’s stock valued at $37,000 after purchasing an additional 16,257 shares during the period.

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.

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