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Tag: Gran Tierra Energy

  • Here is why Gran Tierra Energy Inc. (GTE) stock pop up in the after-hours on Monday?

    Here is why Gran Tierra Energy Inc. (GTE) stock pop up in the after-hours on Monday?

    Gran Tierra Energy Inc. (GTE) shares gained 7.71% in after-hours on Monday, July 12, 2021, and closed the day at $0.77 per share. Earlier, in the morning session, GTE’s stock lost 0.29% to close Monday’s normal session at $0.71 per share. GTE shares have risen 103.15% over the last 12 months, and they have moved down 6.67% in the past week. Over the past three months, the stock has gained 8.95%, while over the past six months, it has declined 62.11%.

    Let’s see what are the latest news and developments about GTE?

    Restoration of Production and Revised 2021 Guidance

    On July 12, 2021, Gran Tierra Energy Inc announced operational and financial updates and updated 2021 guidance.

    Operational update

    On May 17, 2021, several protests and blockades across Colombia impacted several key transportation routes throughout the country, resulting in the temporary shut-in of some of Gran Tierra’s wells and oil fields. After the successful negotiations by the Colombian government, all of the blockades are removed which has allowed the Company to commence restoring its oil production throughout its entire Colombian portfolio.

    Gran Tierra forecasts the second half of 2021 total production to average approximately 30,000-32,000 BOPD.

    Revised 2021 financial outlook

    Gran Tierra now expecting 27,500-28,500 BOPD(previously 28,000-30,000 BOPD), due to the above-mentioned problems in Colombia.

    Gran Tierra is expecting 2021 EBITDA of $265-285 million (previously $255-275 million) and 2021 cash flow of $215-235 million (previously $205-225 million).

    Annual Meeting of Stockholders

    On June 03, 2021, Gran Tierra Energy Inc announced the results of the Company’s semi-annual credit facility redetermination and the voting results from its annual meeting of stockholders held on June 2, 2021.

    The semi-annual redetermination of Gran Tierra’s bank-syndicated revolving credit facility has been completed. The next redetermination is scheduled for November 2021.

    All eight individuals nominated by Gran Tierra was also elected by the stockholders and they also voted for the ratification of the appointment of KPMG LLP as Gran Tierra’s independent registered public accounting firm for the fiscal year ending December 31, 2021.

    Recent financial results announcement

    On May 04, 2021, Gran Tierra Energy Inc released its financial and operating results for the quarter ended March 31, 2021.

    Q1 2021 financial highlights

    • The company suffered a net loss of $37.422 million in Q1 2021 compared to a net loss of $251.63 million inQ1 2020.
    • funds flow from operations was $29 million in Q1 2021 compared to $22.23 million in Q1 2020.
    • The Quarter’s expenditures were approximately $37 million compared to $44 million in Q1 2020.
    • Adjusted EBITDA was $42 million in Q1 2021 compared to $34.5 million in Q1 2020.

    Conclusion

    The recent financial and operational update was the reason behind its after-hours surge on Monday. We are pretty sure that GTE can continue its rally on Tuesday as well.

  • Early Morning Vibes: Watch These 4 Stocks Today

    Early Morning Vibes: Watch These 4 Stocks Today

    The session on December 11, the American stock indexes finished in different directions. The S&P 500 Index dropped 0.13% to 3663 points, the Dow Jones added 0.16%, the NASDAQ lost 0.23%. At the beginning of trading, quotes went down for a short time, but most of the losses during the day were compensated, thanks to positive macro statistics. The communications sector emerged as the clear leader, rallying 1.15% on higher Disney shares. The financial and energy sectors looked weaker than the market, losing about 1% due to the fixation of positions after the rally.
     

    Corporate News
     

    Walt Disney (DIS: + 13.6%) management shared plans and forecasts for streaming services Disney +, Hulu, ESPN + and Star. The cumulative number of subscribers is expected to grow from the current 137 million to 300-350 million by FY2024.
     

    Apple (AAPL: -0.7%) is developing its own modem for its future devices. The news put pressure on shares of Qualcomm (QCOM: -7.4%), a chip maker for 5G communications.
     

    Oracle’s quarterly results (ORCL: + 1.8%) exceeded expectations on strong demand for cloud services.
     

    Today, world stock exchanges are showing mostly positive dynamics. The vaccination campaign can start today. Moderna’s vaccine may be approved this Friday, December 18th, but that too will not come as a surprise to market participants. On the eve of the US authorities issued an order for 100 million of anti-clotting vaccines from this company.
     

    The discussions on the stimulus package remain in the focus of investors’ attention, especially in light of the weak data on jobless claims last week. Today, lawmakers will present a detailed bill on the $ 908 billion package, which can be split into two blocks. One of the blocks will contain support measures that are less controversial among lawmakers. Even a compromise solution on this issue will be welcomed by investors.

    Top Upgrades & Downgrades


    KeyBanc turned bullish on Welltower Inc. (WELL), upgrading the stock to “Overweight” and assigning a $70.0 price target.
     

    RPT Realty (RPT) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $11.0.
     

    The Macerich Company (MAC) received an upgrade from analysts at KeyBanc. They changed their rating on MAC to Sector Weight from Underweight in a recently issued research note.
     

    Earlier Monday KeyBanc reduced its rating on Xenia Hotels & Resorts Inc. (XHR) stock to Sector Weight from Overweight.
     

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Healthpeak Properties Inc. (PEAK) has been changed to Sector Weight from Overweight.
     

    Analysts at KeyBanc downgraded Retail Opportunity Investments Corp. (ROIC)’s stock to Sector Weight from Overweight on Monday.

    Today Top Movers


    Sundial Growers Inc (SNDL) went up 3.69% in today’s premarket session following a declaration from the firm that it has received approval to transfer the listing of its common shares to the Nasdaq Capital Market.
     

    Ideanomics Inc (IDEX) share price surged 11.96% at $2.06 in premarket session on Monday. Investors should take the recent surge in Ideanomics’ share price as a cautionary sign.
     

    Veru Inc (VERU) stock soared 21.16% in early morning trading session today. The firm recently declared that it has exclusively licensed worldwide rights to enobosarm, a late-stage oral novel androgen receptor (AR) targeting agent for the treatment of endocrine resistant ER+ HER2- metastatic breast cancer.

    Latest Insider Activity


    Progyny Inc. (PGNY) 10% Owner TPG Group Holdings (SBS) Advis announced the sale of shares taking place on Dec 10 at $37.52 for some 73,100 shares. The total came to more than $2.74 million.
     

    Enphase Energy Inc. (ENPH) Director Malchow Joseph Ian sold on Dec 11 a total 82,950 shares at $143.90 on average. The insider’s sale generated proceeds of almost $0.43 million.
     

    Gran Tierra Energy Inc. (GTE) Director Wade Brooke N. declared the purchase of shares taking place on Dec 09 at $0.39 for some 200,000 shares. The transaction amount was around $78000.0.
     

    Allied Esports Entertainment Inc. (AESE) 10% Owner Knighted Pastures LLC bought on Dec 10 a total 3,945,720 shares at $1.14 on average. The purchase cost the insider an estimated $99,194.

    Earnings To Watch


    Top US earnings releases scheduled for today include Champions Oncology Inc. (NASDAQ: CSBR). It will announce its Oct 2020 financial results. The company is expected to report revenues of $9.38M in the three-month period.
     

    Analysts expect Qudian Inc. (NYSE: QD) to report a net income (adjusted) of $0.04 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $165.18M.
     

    Vince Holding Corp. (VNCE), due to announce earnings after the market closes today, is expected to report earnings of $0.44 per share from revenues of $65.9M recently concluded three-month period.

  • Gran Tierra Energy (NYSE American: GTE) took big spikes following the announcement of next year’s Outlook

    Gran Tierra Energy (NYSE American: GTE) shares exploded 77.28% to $0.54 in the after-hours after a strategic update, and the Company’s 2021 capital budget and production guidance were reported yesterday. Both dollar figures are in United States dollars. As otherwise specified, all production volumes are on a working interest basis until royalty and are expressed in oil barrels per day.

    The banks’ syndicate has agreed to amend the Gran Tierra bank-syndicated revolving credit facility as follows:

    Under the credit facility, the allocated funding base has been redefined to $215 million.

    $200 million, including $15 million prior approval of most lenders, would be readily available.

    In November 2022, the credit facility matures.

    The Corporation estimates the credit facility’s balance as of December 31, 2020, to be approximately $185 million.

    Gran Tierra aims to direct almost 60 percent of the 2021 capital budget to the sustained growth of the Acordionero field in the Middle Magdalena Valley Basin. Another 35 percent to the Putumayo Basin production activities and the remaining 5 percent to the Company’s portfolio of exploration-related activities in Colombia and Ecuador.

    Gran Tierra has a 100% operating interest in and running the critical properties of the Group in Colombia and Ecuador; this total ownership enables the Business the freedom to optimize its production and exploration programs for up or downshifts in oil prices.