Gran Tierra Energy (NYSEAMERICAN:GTE) Sees Unusually-High Trading Volume

Gran Tierra Energy Inc. (NYSEAMERICAN:GTEGet Rating) saw strong trading volume on Tuesday . 145,789 shares changed hands during trading, a decline of 98% from the previous session’s volume of 7,063,292 shares.The stock last traded at $1.74 and had previously closed at $1.78.

Several brokerages have commented on GTE. BMO Capital Markets raised their price objective on shares of Gran Tierra Energy from C$1.25 to C$1.75 in a report on Wednesday, February 23rd. Royal Bank of Canada raised their price objective on shares of Gran Tierra Energy from C$1.65 to C$1.75 in a report on Wednesday, February 23rd. Canaccord Genuity Group began coverage on shares of Gran Tierra Energy in a report on Tuesday. They issued a “buy” rating and a C$2.70 price objective for the company. Finally, Canaccord Genuity Group began coverage on shares of Gran Tierra Energy in a report on Monday. They issued a “buy” rating for the company.

The firm has a market cap of $622.31 million, a PE ratio of -9.89 and a beta of 1.99. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.11 and a current ratio of 1.11.

Gran Tierra Energy (NYSEAMERICAN:GTEGet Rating) last released its earnings results on Monday, February 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.13. Gran Tierra Energy had a negative net margin of 17.32% and a negative return on equity of 0.58%.

Several hedge funds have recently added to or reduced their stakes in GTE. Royal Bank of Canada increased its position in shares of Gran Tierra Energy by 83.6% during the third quarter. Royal Bank of Canada now owns 4,676,183 shares of the company’s stock valued at $3,456,000 after acquiring an additional 2,128,739 shares in the last quarter. Plustick Management LLC bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at approximately $2,283,000. Verition Fund Management LLC increased its position in shares of Gran Tierra Energy by 70.0% during the third quarter. Verition Fund Management LLC now owns 2,550,000 shares of the company’s stock valued at $1,884,000 after acquiring an additional 1,050,000 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Gran Tierra Energy by 56.9% during the third quarter. Two Sigma Investments LP now owns 1,663,653 shares of the company’s stock valued at $1,229,000 after acquiring an additional 603,317 shares in the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of Gran Tierra Energy by 34.2% during the third quarter. GSA Capital Partners LLP now owns 1,482,855 shares of the company’s stock valued at $1,096,000 after acquiring an additional 378,180 shares in the last quarter. Hedge funds and other institutional investors own 19.95% of the company’s stock.

Gran Tierra Energy Company Profile (NYSEAMERICAN:GTE)

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. As of December 31, 2021, it had total proved undeveloped reserves of 24.8 million barrels of oil equivalent in Colombia. The company was incorporated in 2003 and is headquartered in Calgary, Canada.

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