Growing Through Challenges? – Gran Tierra Energy Inc. (GTE)

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    BNP Paribas Asset Management USA,… recently announced the acquisition of new stake in Gran Tierra Energy Inc. (AMEX:GTE). The institutional investor has increased its shareholding in the Energy company by 1.47% to 41.68 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 11.36% valued currently at $14.42 million. In addition, Goldman Sachs & Co. LLC (Private … raised its holdings by 5.97 million to 8.18 million shares. And Ingalls & Snyder LLC has lifted its position by 2.09% or 0.14 million shares – to 6.66 million shares.

    With over 4.75 million Gran Tierra Energy Inc. (GTE) shares trading Friday and a closing price of $0.29 on the day, the dollar volume was approximately $1.38 million. The shares have shown a negative weekly performance of -13.28% and its price on 07/31/20 lost nearly -4.61%. Currently, there are 366.98M common shares owned by the public and among those 360.44M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for GTE have a consensus price objective of $0.50. The analysts have set the share’s price value over the next 12 months at a high of $1.12 and a low of $0.36 should the stock experience a downside. But an upside of 74.11% will see the stock hit the forecast high price target while mean target price for the stock is $0.41.

    Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 6,189,116 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 2,250,964 shares.

    The top 3 mutual fund holders in Gran Tierra Energy Inc. are BNP Paribas Funds – Emerging Equi, DFA International Small Cap Value, and Government Pension Fund – Global. BNP Paribas Funds – Emerging Equi owns 40.72 million shares of the company’s stock, all valued at over $14.09 million. DFA International Small Cap Value sold -0.54 million shares to see its total holdings shrink to 8.55 million shares valued at over $2.96 million and representing 2.33% of the shares outstanding. Government Pension Fund – Global sold -1.1 million shares to bring its total holdings to over 4.66 million shares at a value of $1.61 million. Government Pension Fund – Global now owns shares totaling to 1.27% of the shares outstanding.

    Shares of Gran Tierra Energy Inc. (AMEX: GTE) opened at $0.31, up $0.01 from a prior closing price of $0.30. However, the script later closed the day at $0.29, down -4.61%. The company’s stock has a 5-day price change of -13.28% and -5.20% over the past three months. GTE shares are trading -77.52% year to date (YTD), with the 12-month market performance down to -81.76% lower. It has a 12-month low price of $0.18 and touched a high of $1.69 over the same period. Currently, 4.75 million shares have been traded, compared to an average intraday trading volume of 5.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.33%, -18.27%, and -57.09% respectively.

    Institutional ownership of Gran Tierra Energy Inc. (AMEX: GTE) shares accounts for 61.10% of the company’s 366.98M shares outstanding. Mutual fund holders own 36.72%, while other institutional holders and individual stakeholders account for 37.23% and 22.83% respectively.

    It has a market capitalization of $107.93M and a beta (3y monthly) value of 1.83. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.59% over the week and 6.89% over the month.

    Analysts forecast that Gran Tierra Energy Inc. (GTE) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2019. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.01 a year ago. EPS should shrink at an annualized rate of 10.00% over the next five years, compared to 17.10% over the past 5-year period.

    Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 11 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the GTE, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Sector Perform rating for the stock in a research note on May 18, 2020, with the firm’s price target at . Scotiabank coverage for the Gran Tierra Energy Inc. (GTE) stock in a research note released on April 07, 2020 offered a Sector Underperform rating with a price target of . National Bank Financial was of a view on October 11, 2019 that the stock is Sector Perform, while RBC Capital Mkts gave the stock Outperform rating on May 21, 2019, issuing a price target of . Credit Suisse on their part issued Outperform rating on February 10, 2017.

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