Gran Tierra Energy (GTE) Shares Down 5.3%

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Gran Tierra Energy Inc (NYSEAMERICAN:GTE)’s share price dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $1.92 and last traded at $1.97. Approximately 745,953 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,677,427 shares. The stock had previously closed at $2.08.

GTE has been the topic of several recent research reports. GMP Securities cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Scotiabank restated a “buy” rating and issued a $5.50 price target on shares of Gran Tierra Energy in a research report on Friday, May 10th. Finally, Royal Bank of Canada cut Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $4.75.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). The company had revenue of $152.57 million during the quarter, compared to analysts’ expectations of $148.50 million. During the same quarter in the previous year, the business earned $0.05 EPS.

In other Gran Tierra Energy news, VP Rodger Derrick Trimble bought 16,800 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $2.34 per share, for a total transaction of $39,312.00. Following the transaction, the vice president now owns 84,650 shares of the company’s stock, valued at approximately $198,081. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Gmt Capital Corp bought 736,032 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of $2.51 per share, for a total transaction of $1,847,440.32. Following the transaction, the insider now directly owns 67,875,186 shares in the company, valued at approximately $170,366,716.86. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,312,432 shares of company stock worth $24,318,000 in the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GMT Capital Corp increased its position in Gran Tierra Energy by 8.8% during the 1st quarter. GMT Capital Corp now owns 73,596,986 shares of the company’s stock worth $167,473,000 after purchasing an additional 5,921,800 shares during the period. Vanguard Group Inc. grew its holdings in shares of Gran Tierra Energy by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,699,810 shares of the company’s stock worth $40,873,000 after acquiring an additional 366,568 shares during the period. Vanguard Group Inc grew its holdings in shares of Gran Tierra Energy by 3.5% in the 3rd quarter. Vanguard Group Inc now owns 10,699,810 shares of the company’s stock worth $40,873,000 after acquiring an additional 366,568 shares during the period. Moerus Capital Management LLC grew its holdings in shares of Gran Tierra Energy by 11.5% in the 1st quarter. Moerus Capital Management LLC now owns 7,107,028 shares of the company’s stock worth $16,185,000 after acquiring an additional 734,060 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Gran Tierra Energy by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,120,635 shares of the company’s stock worth $13,894,000 after acquiring an additional 66,336 shares during the period.

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Gran Tierra Energy Company Profile (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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