Gran Tierra Energy (NYSEAMERICAN:GTE) PT Raised to C$1.35

Gran Tierra Energy (NYSEAMERICAN:GTE) had its target price upped by Scotiabank from C$1.20 to C$1.35 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “sector perform” rating on the stock.

Shares of NYSEAMERICAN GTE traded down $0.02 during mid-day trading on Thursday, reaching $0.88. 63,232 shares of the company’s stock were exchanged, compared to its average volume of 11,970,837. The stock has a market capitalization of $324.24 million, a price-to-earnings ratio of -1.55 and a beta of 2.28. Gran Tierra Energy has a 52 week low of $0.18 and a 52 week high of $1.23. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.73 and a quick ratio of 0.73.

Gran Tierra Energy (NYSEAMERICAN:GTE) last posted its earnings results on Tuesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.05). The business had revenue of $96.62 million during the quarter. Gran Tierra Energy had a negative return on equity of 16.01% and a negative net margin of 67.97%.

A number of institutional investors and hedge funds have recently modified their holdings of GTE. Pinz Capital Management LP bought a new position in shares of Gran Tierra Energy during the second quarter valued at approximately $26,000. UBS Group AG grew its stake in shares of Gran Tierra Energy by 296.8% in the first quarter. UBS Group AG now owns 93,449 shares of the company’s stock worth $65,000 after acquiring an additional 69,898 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Gran Tierra Energy by 61.7% in the second quarter. Bank of Montreal Can now owns 107,400 shares of the company’s stock worth $78,000 after acquiring an additional 40,981 shares during the last quarter. Advisory Resource Group purchased a new stake in shares of Gran Tierra Energy in the second quarter worth $122,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Gran Tierra Energy by 710.7% in the first quarter. Goldman Sachs Group Inc. now owns 165,452 shares of the company’s stock worth $115,000 after acquiring an additional 145,043 shares during the last quarter. 18.93% of the stock is owned by institutional investors and hedge funds.

About Gran Tierra Energy

Gran Tierra Energy, Inc engages in the exploration and production of oil and natural gas in Colombia and Ecuador. It holds interests in the assets located in the Middle Magdalena Valley and Putumayo Basins. The company was founded on June 6, 2003 and is headquartered in Calgary, Canada.

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