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

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

Several brokerages have commented on GTE. BMO Capital Markets restated a “buy” rating on shares of Gran Tierra Energy in a report on Wednesday, June 26th. Royal Bank of Canada downgraded shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a report on Tuesday, May 21st. 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. Finally, 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $3.50.

Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The business had revenue of $157.99 million during the quarter.

In other Gran Tierra Energy news, CFO Ryan Ellson acquired 18,400 shares of the stock in a transaction dated Wednesday, June 19th. The shares were bought at an average cost of $1.61 per share, for a total transaction of $29,624.00. Following the completion of the acquisition, the chief financial officer now directly owns 254,430 shares of the company’s stock, valued at $409,632.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brooke N. Wade acquired 185,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $1.44 per share, for a total transaction of $266,400.00. Following the completion of the acquisition, the director now directly owns 260,200 shares of the company’s stock, valued at $374,688. The disclosure for this purchase can be found here. Insiders bought 213,400 shares of company stock worth $312,124 over the last quarter.

A number of institutional investors and hedge funds have recently modified their holdings of GTE. Wells Fargo & Company MN boosted its position in Gran Tierra Energy by 237.1% during the second quarter. Wells Fargo & Company MN now owns 23,115 shares of the company’s stock worth $37,000 after purchasing an additional 16,257 shares during the period. A.R.T. Advisors LLC boosted its position in Gran Tierra Energy by 43.3% during the second quarter. A.R.T. Advisors LLC now owns 37,406 shares of the company’s stock worth $59,000 after purchasing an additional 11,300 shares during the period. Mackenzie Financial Corp boosted its position in Gran Tierra Energy by 17.8% during the second quarter. Mackenzie Financial Corp now owns 56,300 shares of the company’s stock worth $90,000 after purchasing an additional 8,500 shares during the period. RWC Asset Management LLP bought a new position in Gran Tierra Energy during the second quarter worth $109,000. Finally, CIBC Private Wealth Group LLC bought a new position in Gran Tierra Energy during the first quarter worth $114,000.

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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