Gran Tierra Energy (NYSEAMERICAN:GTE) Shares Gap Down to $1.42

Gran Tierra Energy Inc. (NYSEAMERICAN:GTE – Get Rating)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $1.42, but opened at $1.35. Gran Tierra Energy shares last traded at $1.36, with a volume of 259,858 shares changing hands.

Several research firms have recently weighed in on GTE. Royal Bank of Canada raised their price objective on shares of Gran Tierra Energy from C$1.65 to C$1.75 in a research report on Wednesday, February 23rd. Canaccord Genuity Group began coverage on shares of Gran Tierra Energy in a research report on Monday, April 18th. They set a “buy” rating on the stock. BMO Capital Markets raised their price objective on shares of Gran Tierra Energy from C$1.25 to C$1.75 in a research report on Wednesday, February 23rd. Canaccord Genuity Group assumed coverage on shares of Gran Tierra Energy in a research report on Tuesday, April 19th. They issued a “buy” rating and a C$2.70 target price on the stock. Finally, TheStreet upgraded shares of Gran Tierra Energy from a “d+” rating to a “c” rating in a research report on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $1.89.

The firm has a market capitalization of $512.16 million, a PE ratio of -7.89 and a beta of 1.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.08.

Gran Tierra Energy (NYSEAMERICAN:GTE – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Gran Tierra Energy had a negative return on equity of 0.58% and a negative net margin of 17.32%.

Several institutional investors and hedge funds have recently made changes to their positions in GTE. Dimensional Fund Advisors LP bought a new stake in shares of Gran Tierra Energy during the 1st quarter valued at about $25,000. First Quadrant LLC CA bought a new stake in shares of Gran Tierra Energy during the 1st quarter valued at about $31,000. Qube Research & Technologies Ltd bought a new stake in shares of Gran Tierra Energy during the 1st quarter valued at about $31,000. Wells Fargo & Company MN boosted its stake in shares of Gran Tierra Energy by 233.3% during the 4th quarter. Wells Fargo & Company MN now owns 50,000 shares of the company’s stock valued at $38,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Cullen Capital Management LLC bought a new stake in shares of Gran Tierra Energy during the 1st quarter valued at about $45,000. 19.95% of the stock is currently owned by hedge funds and other institutional investors.

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 and Ecuador. As of December 31, 2021, it had total proved undeveloped reserves of 24.8 million barrels of oil equivalent in Colombia. The company was incorporated in 2003 and is headquartered in Calgary, Canada.

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