Gran Tierra Energy (GTE) was Upgraded by RBC Capital Mkts to ” Top Pick” according to the research note released today. The brokerage firm has raised the Price Target to $ 6 from a previous price target of $4.75 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Jun 20, 2016.
On the company’s financial health, Gran Tierra Energy reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $57.40 million for the quarter, 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 opened for trading at $3.15 and hit $3.21 on the upside on Friday, eventually ending the session at $3.19, with a gain of 3.57% or 0.11 points. The heightened volatility saw the trading volume jump to 6,16,773 shares. Company has a market cap of $946 M.
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.