Gran Tierra Energy Inc. (AMEX: GTE) stock fell -2.50% on Tuesday to $0.94 against a previous-day closing price of $0.97. With 1.25 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.34 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $0.9696 whereas the lowest price it dropped to was $0.9351. The 52-week range on GTE shows that it touched its highest point at $2.15 and its lowest point at $0.76 during that stretch. It currently has a 1-year price target of $2.02. Beta for the stock currently stands at 2.47.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GTE was up-trending over the past week, with a rise of 2.84%, but this was down by -1.98% over a month. Three-month performance dropped to -27.36% while six-month performance fell -22.60%. The stock gained 10.32% in the past year, while it has lost -4.62% so far this year. A look at the trailing 12-month EPS for GTE yields 0.61 with Next year EPS estimates of 0.41. For the next quarter, that number is 0.07. This implies an EPS growth rate of 105.40% for this year and -1.68% for next year.
Float and Shares Shorts:
At present, 367.31 million GTE shares are outstanding with a float of 349.57 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.61 million, which was 1.01% higher than short shares on Sep 14, 2022. In addition to Mr. Gary Stephen Guidry P.Eng. as the firm’s Pres, CEO & Director, Mr. Ryan Paul Ellson C.A., CA serves as its CFO & Exec. VP.
Through their ownership of 33.94% of GTE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.56% of GTE, in contrast to 25.47% held by mutual funds. Shares owned by individuals account for 24.14%. As the largest shareholder in GTE with 5.29% of the stake, GMT Capital Corp. holds 19,530,309 shares worth 19,530,309. A second-largest stockholder of GTE, RBC Global Asset Management, Inc., holds 17,482,506 shares, controlling over 4.74% of the firm’s shares. Two Sigma Investments LP is the third largest shareholder in GTE, holding 7,395,209 shares or 2.01% stake. With a 1.30% stake in GTE, the DFA International Small Cap Value is the largest stakeholder. A total of 4,780,033 shares are owned by the mutual fund manager. The DFA Canadian Small Company Series, which owns about 0.52% of GTE stock, is the second-largest Mutual Fund holder. It holds 1,926,195 shares valued at 1.91 million. DFA International Core Equity Por holds 0.52% of the stake in GTE, owning 1,921,398 shares worth 1.9 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GTE since 7 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GTE analysts setting a high price target of $4.65 and a low target of $1.12, the average target price over the next 12 months is $2.16. Based on these targets, GTE could surge 394.68% to reach the target high and rise by 19.15% to reach the target low. Reaching the average price target will result in a growth of 129.79% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GTE will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of $0.67 being high and $0.35 being low. For GTE, this leads to a yearly average estimate of $0.49. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Gran Tierra Energy Inc. surprised analysts by $0.04 when it reported $0.10 EPS against a consensus estimate of $0.06. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is $0.07 and the low estimate is $0.07. The average estimate for the next quarter is thus $0.07.
Summary of Insider Activity:
Insiders traded GTE stock several times over the past three months with 87 Buys and 0 Sells. In these transactions, 10,754,315 shares were bought while 0 shares were sold. The number of buy transactions has increased to 319 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 18,945,038 while 1,667,888 shares were sold.