CIBC Upgrades Gran Tierra Energy to Outperform

Brokerage firm CIBC Upgrades its rating on Gran Tierra Energy(GTE). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at CIBC was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 10, 2017, Credit Suisse said it Upgrades its rating on Gran Tierra Energy. The shares have been rated ‘Outperform’ by the firm.

Gran Tierra Energy (GTE) shares turned negative on Wednesdays trading session with the shares closing down -0.1 points or -3.60% at a volume of 15,64,213. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.77. The peak price level was also seen at $2.77 while the days lowest was $2.66. Finally the shares closed at $2.68. The 52-week high of the shares is $3.49 while the 52-week low is $2.07. According to the latest information available, the market cap of the company is $1,047 M.

Gran Tierra Energy(GTE) last announced its earnings results on Nov 7, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $68.54M. Analysts had an estimated revenue of $92.88M. Earnings per share were $-0.09. The reported EPS was above estimates by $0.07 or NaN%. Analysts had estimated an EPS of $-0.02.

Several Insider Transactions has been reported to the SEC. On Dec 23, 2016, David Eldon Hardy (VP, Legal and General Counsel) purchased 9,000 shares at $2.84 per share price.Also, On Dec 22, 2016, Ronald Royal (director) purchased 115,000 shares at $2.92 per share price.On Dec 21, 2016, Ed Caldwell (officer ) purchased 15,000 shares at $2.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Gran Tierra Energy Inc. is an energy Company. Through its subsidiaries the Company is engaged in oil and gas acquisition exploration development and production. The Company owns the rights to oil and gas properties in Colombia Peru and Brazil. In Colombia the Company focuses on developing its producing light oil fields including Costayaco and Moqueta and on the generation of exploration prospects. In Peru the Company is engaged in engineering procurement and construction work in preparation for a long-term production test. It commenced drilling the Bretana Sur 95-3-4-1X well and drilled the Bretana Sur 95-2-1XD water disposal well. In Brazil on Block REC-T-155 the Company completed the dual completions of the 3-GTE-03-BA and 4-GTE-04-BA development wells in the Tie field and completed single-stage fracture stimulation on the 1-GTE-8DP-BA exploration well.

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