Equities research analysts at Standpoint Research upgraded shares of Gran Tierra Energy Inc. (NYSE: GTE) from a "hold" rating to a "buy" rating in a research note to investors on Friday. The analysts currently have a $9.00 price target on the stock.
Separately, analysts at Ticonderoga initiated coverage on shares of Gran Tierra Energy Inc. in a research note to investors on Thursday, June 16th. They set a "buy" rating on the stock. Also, analysts at TD Newcrest upgraded shares of Gran Tierra Energy Inc. from a "hold" rating to a "buy" rating in a research note to investors on Wednesday, March 30th.
Shares of Gran Tierra Energy Inc. traded up 0.91% during mid-day trading on Monday, hitting $6.67. Gran Tierra Energy Inc. has a 52 week low of $4.87 and a 52 week high of $9.64. The stock's 50-day moving average is $6.74 and its 200-day moving average is $7.80. The company has a market cap of $1.849 billion and a price-to-earnings ratio of 44.07.
Gran Tierra Energy Inc. last announced its quarterly results on Tuesday, May 10th. The company reported $0.05 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.10 EPS by $0.05. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 31.60% on a year-over-year basis. On average, analysts predict that Gran Tierra Energy Inc. will post $0.14 EPS next quarter.
Gran Tierra Energy Inc. (Gran Tierra) is an independent energy company engaged in oil and gas exploration, development and production. The Company owns oil and gas properties in Colombia, Argentina and Peru. During the year ended December 31, 2009, the Company’s geographic focus was on South America. It focused on development of producing fields and generation of exploration prospects in Colombia. In Argentina the Company maintained existing production and worked on the evaluation of a natural gas project. During the year ended December 31, 2009, the Company held 1,056,803 gross acres in Colombia, 1,628,473 gross acres in Argentina and 3,436,040 acres in Peru.
Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts' upgrades, analysts' downgrades and analysts' price target changes for each day.Click here to register.
