Q3 2017 EPS Estimates for Gran Tierra Energy Inc (GTE) Cut by Cormark
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) – Equities researchers at Cormark reduced their Q3 2017 earnings estimates for shares of Gran Tierra Energy in a research note issued on Tuesday. Cormark analyst G. Ursu now expects that the company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.08. Cormark also issued estimates for Gran Tierra Energy’s FY2017 earnings at $0.16 EPS, Q1 2018 earnings at $0.09 EPS, Q2 2018 earnings at $0.09 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.38 EPS and FY2019 earnings at $0.48 EPS.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Scotiabank restated a “buy” rating and issued a C$5.50 target price on shares of Gran Tierra Energy in a research note on Tuesday, October 10th. Finally, Eight Capital reduced their target price on Gran Tierra Energy from C$6.50 to C$5.25 in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$4.88.
Shares of Gran Tierra Energy (TSE GTE) opened at 2.63 on Wednesday. The stock has a 50 day moving average price of $2.68 and a 200-day moving average price of $2.98. The company’s market capitalization is $1.04 billion. Gran Tierra Energy has a one year low of $2.41 and a one year high of $4.40.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last issued its quarterly earnings results on Thursday, August 3rd. The company reported C($0.02) EPS for the quarter, missing analysts’ consensus estimates of C$0.04 by C($0.06). The firm had revenue of C$96.13 million during the quarter, compared to the consensus estimate of C$99.95 million. Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%.
In other Gran Tierra Energy news, insider Gmt Capital Corp purchased 22,700 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of C$2.19 per share, with a total value of C$49,713.00. Also, Director Brooke N. Wade purchased 242,600 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was acquired at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the transaction, the director now owns 242,600 shares in the company, valued at approximately C$560,406. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 338,100 shares of company stock worth $760,048.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GMT Capital Corp lifted its position in Gran Tierra Energy by 12.7% in the 2nd quarter. GMT Capital Corp now owns 48,839,100 shares of the company’s stock valued at $104,570,000 after acquiring an additional 5,491,900 shares in the last quarter. Vanguard Group Inc. lifted its position in Gran Tierra Energy by 10.6% in the 1st quarter. Vanguard Group Inc. now owns 9,383,209 shares of the company’s stock valued at $24,772,000 after acquiring an additional 898,590 shares in the last quarter. Alliancebernstein L.P. lifted its position in Gran Tierra Energy by 2.2% in the 2nd quarter. Alliancebernstein L.P. now owns 6,881,657 shares of the company’s stock valued at $15,415,000 after acquiring an additional 150,199 shares in the last quarter. Toronto Dominion Bank lifted its position in Gran Tierra Energy by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,891,616 shares of the company’s stock valued at $13,084,000 after acquiring an additional 23,195 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Gran Tierra Energy by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,471,070 shares of the company’s stock valued at $7,695,000 after acquiring an additional 99,228 shares in the last quarter.
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.
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