Adage Capital Management LP 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 7.51% to 6.0 million shares with purchase of 0.42 million shares. This fresh investment now brings its stake to 1.64% valued currently at $1.74 million. In addition, Arrowstreet Capital LP raised its holdings by 3.2 million to 4.66 million shares. And Bridgeway Capital Management, Inc.. has lifted its position by 89.65% or 1.41 million shares – to 2.98 million shares.
With over 2.08 million Gran Tierra Energy Inc. (GTE) shares trading Tuesday and a closing price of $0.28 on the day, the dollar volume was approximately $0.58 million. The shares have shown a negative weekly performance of -4.14% and its price on 09/01/20 lost nearly -3.94%. Currently, there are 366.98M common shares owned by the public and among those 360.39M 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: 10 analysts who have offered their price forecasts for GTE have a consensus price objective of $0.53. The analysts have set the share’s price value over the next 12 months at a high of $1.14 and a low of $0.38 should the stock experience a downside. But an upside of 75.44% will see the stock hit the forecast high price target while mean target price for the stock is $0.42.
Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 49 of these insider trades were purchases, accounting for 5,237,565 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 $11.81 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 $2.48 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 $1.35 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 $0.29, unchanged from a prior closing price of $0.29. However, the script later closed the day at $0.28, down -3.94%. The company’s stock has a 5-day price change of -4.14% and -16.87% over the past three months. GTE shares are trading -78.27% year to date (YTD), with the 12-month market performance down to -78.77% lower. It has a 12-month low price of $0.18 and touched a high of $1.62 over the same period. Currently, 2.08 million shares have been traded, compared to an average intraday trading volume of 4.54 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 -7.01%, -14.10%, and -52.43% respectively.
Institutional ownership of Gran Tierra Energy Inc. (AMEX: GTE) shares accounts for 48.00% of the company’s 366.98M shares outstanding. Mutual fund holders own 24.58%, while other institutional holders and individual stakeholders account for 36.74% and 22.47% respectively.
It has a market capitalization of $96.88M and a beta (3y monthly) value of 1.88. The earnings-per-share (ttm) stands at -$1.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.30% over the week and 5.41% 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, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 10 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. Peel Hunt stated their Buy rating for the stock in a research note on August 06, 2020, with the firm’s price target at. RBC Capital Mkts coverage for the Gran Tierra Energy Inc. (GTE) stock in a research note released on May 18, 2020 offered a Sector Perform rating with a price target of. Scotiabank was of a view on April 07, 2020 that the stock is Sector Underperform, while National Bank Financial gave the stock Sector Perform rating on October 11, 2019, issuing a price target of. RBC Capital Mkts on their part issued Outperform rating on May 21, 2019.