Gran Tierra Energy (GTE) : Traders are bullish on Gran Tierra Energy (GTE) as it has outperformed the S&P 500 by a wide margin of 4.92% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.16%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.13% in the last 1 week, and is up 5.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Gran Tierra Energy, Inc. is up 7.22% in the last 3-month period. Year-to-Date the stock performance stands at 36.87%. The stock has recorded a 20-day Moving Average of 5.88% and the 50-Day Moving Average is 0.95%.
Gran Tierra Energy (NYSEMKT:GTE): The stock opened at $3.00 on Friday but the bulls could not build on the opening and the stock topped out at $3.03 for the day. The stock traded down to $2.97 during the day, due to lack of any buying support eventually closed down at $2.97 with a loss of -2.30% for the day. The stock had closed at $3.04 on the previous day. The total traded volume was 538,326 shares.
Also, Paradigm Capital upgrades its rating on Gran Tierra Energy (NYSEMKT:GTE). The global brokerage major raises the current price target from $3.5 per share to $3.75 per share. Analysts at the Paradigm Capital have a current rating of Buy on the shares. The shares were previously rated Hold. The rating by the firm was issued on April 7, 2016.
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.