Gran Tierra Energy (GTE) Releases Earnings Results, Misses Expectations By $-0.17 EPS

Gran Tierra Energy (GTE) reported quarterly earnings results on Monday, Aug-8-2016. The company reported $-0.21 earnings per share for the quarter, missing the analyst consensus estimate by $-0.17. Analysts had a consensus of $-0.04. Analysts expectations of $76.65 million. During the same quarter in the previous year, the company posted $-0.13 EPS.

Many Wall Street Analysts have commented on Gran Tierra Energy. Company shares were Upgraded by RBC Capital Mkts on Jun 20, 2016 to ” Top Pick”, Firm has raised the Price Target to $ 6 from a previous price target of $4.75 .

Gran Tierra Energy (GTE) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $2.72 and reached the intraday high at $2.72. The bulls started the profit booking and pushed the shares to intraday low of $2.63. The trading session was marked by a volume range of 4,90,524 shares exchanging hands. The 52-week high of the shares is $3.49 and the 52-week low is $1.79. The market cap of the company stands at $803 M and there are 29,64,76,580 shares in public circulation.

In a different news, on Dec 15, 2015, Gary Guidry (CEO) purchased 71,376 shares at $2.00 per share price. According to the SEC, on Nov 20, 2015, Lawrence West (VP, Exploration) purchased 13,000 shares at $2.27 per share price. On Sep 1, 2015, Jim Evans (VP, Corp Services & Compliance) purchased 61,000 shares at $2.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Gran Tierra Energy Inc. is an energy Company. Through its subsidiaries the Company is engaged in oil and gas acquisition exploration development and production. The Company owns the rights to oil and gas properties in Colombia Peru and Brazil. In Colombia the Company focuses on developing its producing light oil fields including Costayaco and Moqueta and on the generation of exploration prospects. In Peru the Company is engaged in engineering procurement and construction work in preparation for a long-term production test. It commenced drilling the Bretana Sur 95-3-4-1X well and drilled the Bretana Sur 95-2-1XD water disposal well. In Brazil on Block REC-T-155 the Company completed the dual completions of the 3-GTE-03-BA and 4-GTE-04-BA development wells in the Tie field and completed single-stage fracture stimulation on the 1-GTE-8DP-BA exploration well.

Gran Tierra Energy

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