Analyst Price Target Update on Gran Tierra Energy (NYSEMKT:GTE)

Gran Tierra Energy (NYSEMKT:GTE) should head towards $3.66 per share according to 2 Analysts in consensus. However, if the road gets shaky, the stock may fall short to $4 per share. The higher price estimate target is at $4 according to the Analysts.

Many analysts have stated their opinion on the company shares. Brokerage firm Paradigm Capital upgrades its rating on Gran Tierra Energy (NYSEMKT:GTE). As per the latest information, the brokerage house raises the price target to $3.75 per share from a prior target of $3.5. The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on April 7, 2016. For the current week, the company shares have a recommendation consensus of Buy.

On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Gran Tierra Energy Inc., Guidry Gary had purchased shares worth of $142,752 in a transaction dated on December 14, 2015. A total of 71,376 shares were purchased at a price of $2 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Gran Tierra Energy (NYSEMKT:GTE) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.01 points or 0.31% at $3.19 with 848,628 shares getting traded. Post opening the session at $3.06, the shares hit an intraday low of $3.03 and an intraday high of $3.27 and the price was in this range throughout the day. The company has a market cap of $946 million and the number of outstanding shares have been calculated to be 296,476,580 shares. The 52-week high of Gran Tierra Energy (NYSEMKT:GTE) is $3.49 and the 52-week low is $1.79.

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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