Gran Tierra Energy (GTE) Announces Earnings Results, Misses Expectations By $0.04 EPS

Gran Tierra Energy (NYSEAMERICAN:GTE) announced its earnings results on Tuesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.04), Fidelity Earnings reports. The firm had revenue of $152.57 million during the quarter, compared to analyst estimates of $148.50 million. During the same quarter last year, the firm posted $0.05 earnings per share.

GTE stock traded down $0.04 during midday trading on Thursday, reaching $1.97. The company had a trading volume of 1,924,900 shares, compared to its average volume of 1,704,599. Gran Tierra Energy has a fifty-two week low of $1.92 and a fifty-two week high of $3.96.

A number of equities analysts recently commented on GTE shares. Zacks Investment Research upgraded Gran Tierra Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. GMP Securities downgraded Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Scotiabank reiterated a “buy” rating and issued a $5.50 price target on shares of Gran Tierra Energy in a research note on Friday, May 10th. Finally, Royal Bank of Canada downgraded Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research note on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $4.75.

In other Gran Tierra Energy news, VP Rodger Derrick Trimble acquired 16,800 shares of Gran Tierra Energy stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $2.34 per share, for a total transaction of $39,312.00. Following the completion of the transaction, the vice president now owns 84,650 shares in the company, valued at approximately $198,081. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gmt Capital Corp acquired 1,141,000 shares of Gran Tierra Energy stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $2.18 per share, with a total value of $2,487,380.00. Following the completion of the transaction, the insider now owns 75,698,386 shares of the company’s stock, valued at approximately $165,022,481.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 10,312,432 shares of company stock valued at $24,318,000.

Several hedge funds and other institutional investors have recently modified their holdings of the company. GMT Capital Corp boosted its position in shares of Gran Tierra Energy by 8.8% during the first quarter. GMT Capital Corp now owns 73,596,986 shares of the company’s stock worth $167,473,000 after buying an additional 5,921,800 shares during the period. Vanguard Group Inc. raised its holdings in Gran Tierra Energy by 3.5% during the third quarter. Vanguard Group Inc. now owns 10,699,810 shares of the company’s stock worth $40,873,000 after purchasing an additional 366,568 shares in the last quarter. Vanguard Group Inc raised its holdings in Gran Tierra Energy by 3.5% during the third quarter. Vanguard Group Inc now owns 10,699,810 shares of the company’s stock worth $40,873,000 after purchasing an additional 366,568 shares in the last quarter. Moerus Capital Management LLC raised its holdings in Gran Tierra Energy by 11.5% during the first quarter. Moerus Capital Management LLC now owns 7,107,028 shares of the company’s stock worth $16,185,000 after purchasing an additional 734,060 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Gran Tierra Energy by 1.1% during the first quarter. The Manufacturers Life Insurance Company now owns 6,120,635 shares of the company’s stock worth $13,894,000 after purchasing an additional 66,336 shares in the last quarter.

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About Gran Tierra Energy

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.

Further Reading: 52-Week High/Low

Earnings History for Gran Tierra Energy (NYSEAMERICAN:GTE)

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