Gran Tierra Energy Inc (GTE) Receives C$5.22 Average Price Target from Analysts

Shares of Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) have been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$5.22.

Several equities analysts recently issued reports on GTE shares. Eight Capital boosted their price objective on Gran Tierra Energy from C$5.50 to C$6.25 in a research report on Tuesday, February 6th. Zacks Investment Research upgraded Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, October 27th. Scotiabank reiterated an “outperform” rating and issued a C$5.50 price objective on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. Finally, CIBC boosted their price objective on Gran Tierra Energy from C$3.00 to C$3.50 in a research report on Tuesday, January 23rd.

In other news, insider Gmt Capital Corp purchased 12,000 shares of Gran Tierra Energy stock in a transaction on Monday, January 29th. The stock was purchased at an average price of C$2.88 per share, with a total value of C$34,560.00. In the last ninety days, insiders have acquired 111,900 shares of company stock valued at $248,342.

A number of large investors have recently added to or reduced their stakes in GTE. GMT Capital Corp boosted its position in Gran Tierra Energy by 4.5% during the 3rd quarter. GMT Capital Corp now owns 51,034,600 shares of the company’s stock worth $115,482,000 after acquiring an additional 2,195,500 shares during the last quarter. Schroder Investment Management Group boosted its position in Gran Tierra Energy by 40.6% during the 3rd quarter. Schroder Investment Management Group now owns 7,434,709 shares of the company’s stock worth $20,141,000 after acquiring an additional 2,146,732 shares during the last quarter. Concourse Capital Management LLC boosted its position in Gran Tierra Energy by 28.7% during the 3rd quarter. Concourse Capital Management LLC now owns 1,085,061 shares of the company’s stock worth $2,474,000 after acquiring an additional 242,140 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Gran Tierra Energy during the 2nd quarter worth approximately $491,000. Finally, California Public Employees Retirement System boosted its position in Gran Tierra Energy by 15.4% during the 2nd quarter. California Public Employees Retirement System now owns 1,605,800 shares of the company’s stock worth $3,597,000 after acquiring an additional 214,000 shares during the last quarter.

Shares of Gran Tierra Energy (TSE:GTE) traded up C$0.11 during mid-day trading on Friday, hitting C$3.23. The stock had a trading volume of 411,150 shares, compared to its average volume of 785,325. The company has a market cap of $1,230.00, a PE ratio of -7.80 and a beta of 0.19. Gran Tierra Energy has a one year low of C$2.41 and a one year high of C$3.75.

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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.

Analyst Recommendations for Gran Tierra Energy (TSE:GTE)

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