Gran Tierra Energy (NYSEAMERICAN:GTE) Trading Up 9%

Gran Tierra Energy Inc (NYSEAMERICAN:GTE)’s share price was up 9% during mid-day trading on Wednesday . The stock traded as high as $0.22 and last traded at $0.24, approximately 83,150 shares changed hands during trading. A decline of 97% from the average daily volume of 2,451,531 shares. The stock had previously closed at $0.22.

Several equities research analysts recently issued reports on GTE shares. Zacks Investment Research raised shares of Gran Tierra Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, March 10th. CIBC reaffirmed a “hold” rating and set a $2.50 price target on shares of Gran Tierra Energy in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $3.09.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The firm had revenue of $127.93 million for the quarter.

In related news, Director Brooke N. Wade bought 122,200 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $1.23 per share, with a total value of $150,306.00. Also, Director Brooke N. Wade bought 300,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was bought at an average cost of $0.23 per share, with a total value of $69,000.00. Insiders bought a total of 4,598,900 shares of company stock valued at $1,267,481 in the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTE. California Public Employees Retirement System increased its position in shares of Gran Tierra Energy by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 423,200 shares of the company’s stock worth $529,000 after purchasing an additional 23,200 shares during the last quarter. State Street Corp increased its position in shares of Gran Tierra Energy by 5.6% in the 3rd quarter. State Street Corp now owns 985,463 shares of the company’s stock worth $1,232,000 after purchasing an additional 52,665 shares during the last quarter. Barclays PLC increased its position in shares of Gran Tierra Energy by 47.2% in the 3rd quarter. Barclays PLC now owns 45,850 shares of the company’s stock worth $57,000 after purchasing an additional 14,710 shares during the last quarter. K.J. Harrison & Partners Inc increased its position in shares of Gran Tierra Energy by 74.1% in the 4th quarter. K.J. Harrison & Partners Inc now owns 70,000 shares of the company’s stock worth $90,000 after purchasing an additional 29,800 shares during the last quarter. Finally, Red Door Wealth Management LLC bought a new stake in shares of Gran Tierra Energy in the 4th quarter worth about $95,000.

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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