The Gran Tierra Energy Inc (GTE) Downgraded by Zacks Investment Research to Hold

The Gran Tierra Energy Inc (GTE) Downgraded by Zacks Investment Research to Hold

According to Zacks, “Gran Tierra Energy Inc. is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru. The company strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. “

Zacks Investment Research lowered shares of Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) from a strong-buy rating to a hold rating in a research report released on Monday, May 15th.

Several other research firms also recently issued reports on GTE. Credit Suisse Group AG raised Gran Tierra Energy from a neutral rating to an outperform rating and upped their price objective for the stock from C$3.75 to C$4.00 in a report on Friday, February 10th. CIBC raised Gran Tierra Energy from a neutral rating to an outperform rating in a report on Monday, February 13th. TD Securities reaffirmed an action list buy rating and set a C$6.50 price objective on shares of Gran Tierra Energy in a report on Friday, May 5th. Canaccord Genuity reissued a buy rating and issued a C$5.30 price target on shares of Gran Tierra Energy in a research note on Thursday, March 2nd. Finally, Scotiabank reissued an outperform rating and issued a C$6.00 price target on shares of Gran Tierra Energy in a research note on Thursday, May 4th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of C$5.12. Shares of Gran Tierra Energy (TSE:GTE) opened at 3.11 on Monday. The stock’s market cap is $1.24 billion. The company’s 50-day moving average price is $3.37 and its 200 day moving average price is $3.57. Gran Tierra Energy has a 1-year low of $3.09 and a 1-year high of $4.44.

Gran Tierra Energy (TSE:GTE) last announced its earnings results on Wednesday, May 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.54. The business had revenue of $94.66 million during the quarter, compared to analyst estimates of $101.70 million. Equities analysts forecast that Gran Tierra Energy will post $0.13 EPS for the current fiscal year. In other news, insider Gmt Capital Corp bought 18,100 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of C$2.56 per share, for a total transaction of C$46,336.00. Also, Director Brooke N. Wade bought 142,600 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of C$2.59 per share, with a total value of C$369,334.00. The disclosure for this purchase can be found here. Insiders purchased a total of 576,850 shares of company stock valued at $1,440,760 over the last quarter.

A number of large investors have recently modified their holdings of the company. Luminus Management LLC bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at about $24,400,000. Marshall Wace LLP bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at about $7,628,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Gran Tierra Energy during the first quarter valued at about $6,936,000. Marshall Wace North America L.P. bought a new stake in shares of Gran Tierra Energy during the first quarter valued at about $6,936,000. Finally, Norges Bank bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at about $6,835,000. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSX:GTE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Gran Tierra Energy (GTE)

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