Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) – Equities researchers at Cormark increased their FY2017 earnings per share (EPS) estimates for shares of Gran Tierra Energy in a report released on Tuesday, according to Zacks Investment Research. Cormark analyst G. Ursu now expects that the company will post earnings per share of $0.12 for the year, up from their prior forecast of $0.10. Cormark also issued estimates for Gran Tierra Energy’s Q4 2017 earnings at $0.09 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.39 EPS and FY2019 earnings at $0.46 EPS.
A number of other analysts have also issued reports on the company. Scotiabank reissued an “outperform” rating and issued a C$5.50 target price on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. Zacks Investment Research raised Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Eight Capital cut their target price on Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$4.79.
Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings results on Thursday, November 2nd. The company reported C$0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.05 by C($0.04). The firm had revenue of C$103.77 million for the quarter, compared to analysts’ expectations of C$110.60 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The firm’s quarterly revenue was up 51.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.71) EPS.
In other news, insider Gmt Capital Corp bought 22,300 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of C$2.09 per share, for a total transaction of C$46,607.00. In the last quarter, insiders have purchased 99,900 shares of company stock valued at $213,782.
A number of institutional investors and hedge funds have recently made changes to their positions in GTE. BlueCrest Capital Management Ltd purchased a new stake in Gran Tierra Energy in the second quarter valued at $114,000. Aperio Group LLC lifted its position in Gran Tierra Energy by 6.9% in the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock valued at $165,000 after acquiring an additional 4,769 shares during the last quarter. Bank of Nova Scotia lifted its position in Gran Tierra Energy by 39.3% in the second quarter. Bank of Nova Scotia now owns 115,707 shares of the company’s stock valued at $257,000 after acquiring an additional 32,656 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in Gran Tierra Energy by 3.7% in the second quarter. Virtu KCG Holdings LLC now owns 115,353 shares of the company’s stock valued at $258,000 after acquiring an additional 4,063 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its position in Gran Tierra Energy by 74.6% in the second quarter. Brandes Investment Partners LP now owns 126,553 shares of the company’s stock valued at $283,000 after acquiring an additional 54,073 shares during the last quarter.
Gran Tierra Energy Company Profile
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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