Gran Tierra Energy (GTE) Releases Earnings Results, Misses Expectations By $-0.04 EPS

Gran Tierra Energy (GTE) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-0.15 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $-0.11. The company posted revenue of $57.40 million in the period, compared to analysts expectations of $59.35 million. The company’s revenue was down -24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Gran Tierra Energy closed down -0.08 points or -2.70% at $2.88 with 8,98,802 shares getting traded on Monday. Post opening the session at $2.98, the shares hit an intraday low of $2.81 and an intraday high of $2.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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