Gran Tierra Energy (NYSE:GTE) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Gran Tierra Energy reported a quarterly earnings per share (EPS) of ($0.36), exceeding the consensus estimate of ($0.43) by $0.07.
• The company's stock experienced a decline of 2.4% during trading, closing at $4.41 per share.
• Insider activity included a major shareholder purchasing 30,000 shares for a total value of $144,300, increasing their stake in the company.

Gran Tierra Energy (NYSE:GTE - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07, RTT News reports. Gran Tierra Energy had a return on equity of 11.36% and a net margin of 7.17%. During the same period in the previous year, the company earned $1.16 earnings per share.

Gran Tierra Energy Price Performance

Shares of GTE stock traded down $0.54 during trading hours on Friday, hitting $3.94. The company's stock had a trading volume of 740,698 shares, compared to its average volume of 288,932. Gran Tierra Energy has a twelve month low of $3.34 and a twelve month high of $8.78. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. The business has a fifty day moving average of $4.91 and a 200-day moving average of $4.98. The stock has a market cap of $139.20 million, a price-to-earnings ratio of 2.76 and a beta of 0.77.

Insiders Place Their Bets

In other Gran Tierra Energy news, major shareholder Equinox Partners Investment Ma purchased 30,000 shares of the business's stock in a transaction on Friday, June 6th. The stock was bought at an average cost of $4.81 per share, for a total transaction of $144,300.00. Following the acquisition, the insider owned 2,009,486 shares of the company's stock, valued at approximately $9,665,627.66. The trade was a 1.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.45% of the company's stock.

Hedge Funds Weigh In On Gran Tierra Energy

An institutional investor recently raised its position in Gran Tierra Energy stock. Goldman Sachs Group Inc. increased its position in shares of Gran Tierra Energy Inc. (NYSE:GTE - Free Report) by 6.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,090 shares of the company's stock after purchasing an additional 6,015 shares during the quarter. Goldman Sachs Group Inc. owned 0.28% of Gran Tierra Energy worth $484,000 at the end of the most recent reporting period. 31.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on GTE shares. Raymond James Financial assumed coverage on shares of Gran Tierra Energy in a research report on Friday, June 20th. They set a "market perform" rating on the stock. Stifel Nicolaus began coverage on shares of Gran Tierra Energy in a research report on Tuesday, May 13th. They set a "buy" rating on the stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.