Gran Tierra Energy Inc. (GTE) Earns Outperform Rating from Scotiabank

Gran Tierra Energy Inc. (GTE) Earns Outperform Rating from Scotiabank

Scotiabank reissued their outperform rating on shares of Gran Tierra Energy Inc. (TSE:GTE) (AMEX:GTE) in a report issued on Tuesday. The firm currently has a C$6.00 price target on the stock.

GTE has been the topic of several other research reports. TD Securities restated an action list buy rating and set a C$5.50 price target on shares of Gran Tierra Energy in a research report on Tuesday, September 27th. Zacks Investment Research raised shares of Gran Tierra Energy from a strong sell rating to a buy rating and set a C$3.50 price objective on the stock in a report on Tuesday, January 3rd. Citigroup Inc. raised shares of Gran Tierra Energy from a neutral rating to a buy rating in a report on Friday, November 4th. Goldman Sachs Group, Inc. (The) increased their price objective on shares of Gran Tierra Energy from C$3.80 to C$3.90 in a report on Friday, December 16th. Finally, Canaccord Genuity set a C$5.00 price objective on shares of Gran Tierra Energy and gave the company a buy rating in a report on Monday, January 23rd. Eleven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Gran Tierra Energy has an average rating of Buy and a consensus target price of C$6.68.

Gran Tierra Energy (TSE:GTE) opened at 3.32 on Tuesday. The company’s market capitalization is $1.18 billion. The company’s 50-day moving average is $3.76 and its 200 day moving average is $3.83. Gran Tierra Energy has a one year low of $2.68 and a one year high of $4.44.

In related news, Director David P. Smith purchased 65,000 shares of the company’s stock in a transaction on Tuesday, December 20th. The stock was acquired at an average cost of C$2.91 per share, for a total transaction of C$189,150.00. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at C$87,300. Also, VP Lawrence West purchased 25,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were bought at an average price of C$3.05 per share, with a total value of C$76,250.00. Following the completion of the transaction, the vice president now owns 228,830 shares of the company’s stock, valued at C$697,931.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 212,500 shares of company stock valued at $629,540.

Several large investors have recently made changes to their positions in the stock. Black Maple Capital Management LP bought a new stake in shares of Gran Tierra Energy during the third quarter worth $1,505,000. Virginia Retirement Systems ET AL bought a new stake in shares of Gran Tierra Energy during the second quarter worth $155,000. Wasatch Advisors Inc. boosted its stake in shares of Gran Tierra Energy by 13.2% in the third quarter. Wasatch Advisors Inc. now owns 2,332,389 shares of the company’s stock worth $7,020,000 after buying an additional 272,118 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Gran Tierra Energy during the second quarter worth $1,044,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Gran Tierra Energy by 176.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 99,642 shares of the company’s stock worth $3,320,000 after buying an additional 63,642 shares in the last quarter.

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.

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