Gran Tierra Energy (GTE) Price Target Increased to C$5.10 by Analysts at Citigroup

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) had its target price increased by Citigroup from C$4.60 to C$5.10 in a research report sent to investors on Thursday, May 3rd.

Several other analysts also recently issued reports on the company. Scotiabank reiterated an outperform rating and set a C$6.25 price target on shares of Gran Tierra Energy in a research note on Wednesday, May 2nd. Canaccord Genuity upped their price target on Gran Tierra Energy from C$5.00 to C$5.50 in a research note on Wednesday, April 11th. CIBC decreased their price target on Gran Tierra Energy from C$4.00 to C$3.50 in a research note on Tuesday, March 20th. Royal Bank of Canada upped their price target on Gran Tierra Energy from C$4.60 to C$4.80 and gave the stock a top pick rating in a research note on Friday, March 2nd. Finally, Eight Capital upped their price target on Gran Tierra Energy from C$5.50 to C$6.25 in a research note on Tuesday, February 6th.

Shares of GTE traded up C$0.03 during trading hours on Thursday, hitting C$4.40. 663,667 shares of the company were exchanged, compared to its average volume of 778,069. Gran Tierra Energy has a 52 week low of C$2.41 and a 52 week high of C$4.46.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its quarterly earnings results on Tuesday, May 1st. The company reported C$0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.11 by C($0.05). The company had revenue of C$174.74 million for the quarter, compared to the consensus estimate of C$167.77 million. Gran Tierra Energy had a negative return on equity of 16.58% and a negative net margin of 31.22%.

In other Gran Tierra Energy news, Director Brooke Nelson Wade bought 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was purchased at an average price of C$2.56 per share, for a total transaction of C$384,000.00. Also, insider Gmt Capital Corp bought 24,200 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were acquired at an average price of C$2.75 per share, with a total value of C$66,550.00. In the last 90 days, insiders have purchased 212,780 shares of company stock valued at $554,420.

A hedge fund recently raised its stake in Gran Tierra Energy stock. JPMorgan Chase & Co. raised its position in Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) by 78.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 392,545 shares of the company’s stock after acquiring an additional 173,178 shares during the period. JPMorgan Chase & Co. owned about 0.10% of Gran Tierra Energy worth $895,000 as of its most recent SEC filing.

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, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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