Gran Tierra Energy (GTE) : K.j. Harrison Partners Inc reduced its stake in Gran Tierra Energy by 61.86% during the most recent quarter end. The investment management company now holds a total of 419,300 shares of Gran Tierra Energy which is valued at $1,140,496 after selling 680,000 shares in Gran Tierra Energy , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Gran Tierra Energy makes up approximately 0.60% of K.j. Harrison Partners Inc’s portfolio.
Other Hedge Funds, Including , Montrusco Bolton Investments sold out all of its stake in GTE during the most recent quarter. The investment firm sold 50,430 shares of GTE which is valued $142,213.Creative Planning boosted its stake in GTE in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 2,400 shares of Gran Tierra Energy which is valued at $7,080.
Gran Tierra Energy opened for trading at $2.71 and hit $2.805 on the upside on Friday, eventually ending the session at $2.77, with a gain of 2.21% or 0.06 points. The heightened volatility saw the trading volume jump to 10,30,627 shares. Company has a market cap of $821 M.
On the company’s financial health, Gran Tierra Energy reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $57.40 million for the quarter, compared to analysts expectations of $59.35 million. The company’s revenue was down -24.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.
Many Wall Street Analysts have commented on Gran Tierra Energy. Company shares were Upgraded by RBC Capital Mkts on Jun 20, 2016 to ” Top Pick”, Firm has raised the Price Target to $ 6 from a previous price target of $4.75 .
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.