Insider Buying: Gran Tierra Energy Inc (GTE) Insider Purchases 7,880 Shares of Stock

Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) insider Alan Martin Johnson bought 7,880 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was bought at an average cost of C$2.53 per share, with a total value of C$19,936.40.

Shares of TSE GTE traded down C$0.07 during mid-day trading on Wednesday, hitting C$3.43. 426,640 shares of the company’s stock traded hands, compared to its average volume of 723,923. Gran Tierra Energy Inc has a 1 year low of C$2.41 and a 1 year high of C$3.75.

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Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last announced its earnings results on Tuesday, February 27th. The company reported C$0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.08 by C($0.03). The business had revenue of C$161.53 million for the quarter, compared to analysts’ expectations of C$158.56 million. Gran Tierra Energy had a negative net margin of 31.22% and a negative return on equity of 16.58%.

A number of large investors have recently modified their holdings of the stock. GMT Capital Corp grew its stake in Gran Tierra Energy by 4.5% in the 3rd quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock worth $115,482,000 after acquiring an additional 2,195,500 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Gran Tierra Energy by 40.6% during the third quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock valued at $20,141,000 after purchasing an additional 2,146,732 shares in the last quarter. Concourse Capital Management LLC boosted its stake in shares of Gran Tierra Energy by 28.7% during the third quarter. Concourse Capital Management LLC now owns 1,085,061 shares of the company’s stock valued at $2,474,000 after purchasing an additional 242,140 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Gran Tierra Energy by 78.9% during the third quarter. JPMorgan Chase & Co. now owns 392,545 shares of the company’s stock valued at $895,000 after purchasing an additional 173,178 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Gran Tierra Energy by 2.2% during the second quarter. State Street Corp now owns 374,942 shares of the company’s stock valued at $840,000 after purchasing an additional 8,119 shares in the last quarter.

A number of equities research analysts have recently issued reports on GTE shares. CIBC boosted their price objective on shares of Gran Tierra Energy from C$3.00 to C$3.50 in a research report on Tuesday, January 23rd. Scotiabank reissued an “outperform” rating and set a C$5.50 price objective on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. Royal Bank of Canada lifted their target price on shares of Gran Tierra Energy from C$4.60 to C$4.80 and gave the company a “top pick” rating in a research note on Friday, March 2nd. Finally, Eight Capital lifted their target price on shares of Gran Tierra Energy from C$5.50 to C$6.25 in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$4.76.

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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.

Insider Buying and Selling by Quarter for Gran Tierra Energy (TSE:GTE)

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