Gran Tierra Energy Inc to Post FY2017 Earnings of $0.12 Per Share, Cormark Forecasts (GTE)

Gran Tierra Energy Inc (TSE:GTE) (NYSEMKT:GTE) – Research analysts at Cormark raised their FY2017 earnings per share estimates for Gran Tierra Energy in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Cormark analyst G. Ursu now expects that the company will earn $0.12 per share for the year, up from their prior forecast of $0.10. Cormark also issued estimates for Gran Tierra Energy’s Q4 2017 earnings at $0.09 EPS, Q3 2018 earnings at $0.10 EPS, Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.39 EPS and FY2019 earnings at $0.46 EPS.

Gran Tierra Energy (TSE:GTE) (NYSEMKT:GTE) last released its earnings results on Thursday, November 2nd. The company reported C$0.01 earnings per share for the quarter, missing the consensus estimate of C$0.05 by C($0.04). Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%. The firm had revenue of C$103.77 million during the quarter, compared to the consensus estimate of C$110.60 million. During the same period in the prior year, the business posted ($0.71) earnings per share. Gran Tierra Energy’s quarterly revenue was up 51.4% compared to the same quarter last year.

A number of other equities analysts have also recently commented on GTE. Eight Capital reduced their price objective on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research report on Wednesday, September 27th. Scotiabank reaffirmed an “outperform” rating and set a C$5.50 price objective on shares of Gran Tierra Energy in a research report on Tuesday, December 19th. Finally, Zacks Investment Research raised shares of Gran Tierra Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Gran Tierra Energy presently has an average rating of “Buy” and an average target price of C$4.79.

Gran Tierra Energy (TSE GTE) traded up C$0.04 during trading hours on Thursday, hitting C$3.70. 372,300 shares of the company traded hands, compared to its average volume of 830,534. Gran Tierra Energy has a twelve month low of C$2.41 and a twelve month high of C$3.75. The company has a market capitalization of $1,460.00, a PE ratio of -9.25 and a beta of 0.17.

In other Gran Tierra Energy news, insider Gmt Capital Corp bought 14,600 shares of Gran Tierra Energy stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of C$2.10 per share, with a total value of C$30,660.00. In the last three months, insiders bought 99,900 shares of company stock valued at $213,782.

Institutional investors have recently made changes to their positions in the company. BlueCrest Capital Management Ltd bought a new stake in shares of Gran Tierra Energy in the second quarter valued at about $114,000. Aperio Group LLC boosted its position in shares of Gran Tierra Energy by 6.9% in the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock valued at $165,000 after acquiring an additional 4,769 shares during the period. Bank of Nova Scotia boosted its position in shares of Gran Tierra Energy by 39.3% in the second quarter. Bank of Nova Scotia now owns 115,707 shares of the company’s stock valued at $257,000 after acquiring an additional 32,656 shares during the period. Virtu KCG Holdings LLC boosted its position in shares of Gran Tierra Energy by 3.7% in the second quarter. Virtu KCG Holdings LLC now owns 115,353 shares of the company’s stock valued at $258,000 after acquiring an additional 4,063 shares during the period. Finally, Brandes Investment Partners LP raised its stake in Gran Tierra Energy by 74.6% in the second quarter. Brandes Investment Partners LP now owns 126,553 shares of the company’s stock valued at $283,000 after purchasing an additional 54,073 shares in the last quarter.

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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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