Gran Tierra Energy (NYSE:GTE) Issues Quarterly Earnings Results

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) announced its quarterly earnings data on Wednesday. The company reported ($0.36) EPS for the quarter, topping 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 quarter in the previous year, the firm earned $1.16 earnings per share.

Gran Tierra Energy Trading Down 12.1%

NYSE:GTE traded down $0.54 on Friday, reaching $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 1-year low of $3.34 and a 1-year high of $8.78. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The firm has a market cap of $139.20 million, a PE ratio of 2.76 and a beta of 0.77. The business's 50-day moving average price is $4.92 and its two-hundred day moving average price is $5.02.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GTE shares. Raymond James Financial began coverage on shares of Gran Tierra Energy in a research report on Friday, June 20th. They issued a "market perform" rating on the stock. Stifel Nicolaus started coverage on shares of Gran Tierra Energy in a report on Tuesday, May 13th. They issued a "buy" rating on the stock.

Insider Activity

In other Gran Tierra Energy news, major shareholder Equinox Partners Investment Ma acquired 18,441 shares of the business's stock in a transaction dated Monday, June 9th. The shares were acquired at an average price of $4.75 per share, for a total transaction of $87,594.75. Following the acquisition, the insider directly owned 2,018,707 shares of the company's stock, valued at approximately $9,588,858.25. This trade represents a 0.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gran Tierra Energy

A hedge fund recently raised its stake in Gran Tierra Energy stock. Goldman Sachs Group Inc. raised its stake in Gran Tierra Energy Inc. (NYSE:GTE - Free Report) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,090 shares of the company's stock after buying an additional 6,015 shares during the quarter. Goldman Sachs Group Inc. owned about 0.28% of Gran Tierra Energy worth $484,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.70% of the company's 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.