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Sebastien Morin, Chief Operating Officer of Gran Tierra Energy Inc. (NYSE:GTE), has recently acquired additional shares in the company, a notable move given the stock’s significant decline of over 30% in the past six months. According to InvestingPro data, the stock is currently trading near its 52-week low of $4.51. According to a recent SEC filing, Morin purchased 7,430 shares of common stock on February 27, 2025, at a price of $4.67 per share. This transaction amounts to a total value of $34,698. Following this acquisition, Morin now holds a total of 16,357 shares directly. The purchase price was originally transacted in Canadian currency and converted to U.S. dollars. InvestingPro analysis reveals the company operates with a moderate debt level and analysts anticipate challenges ahead, with net income expected to decline this year. For deeper insights into GTE’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Gran Tierra Energy reported a notable turnaround in its financial performance for the fourth quarter of 2024, with a net income of $3 million compared to a net loss of $6.3 million in the same period the previous year. Despite this improvement, the company experienced an 8% decrease in adjusted EBITDA, totaling $367 million, and a slight 2% decrease in revenue from net oil sales, which amounted to $622 million. Gran Tierra’s capital expenditures increased by 3% to $234 million, while cash and cash equivalents rose to $103 million from $62 million in 2023.
The company set ambitious production guidance for 2025, aiming for 47,000 to 53,000 barrels of oil equivalent (BOE) per day. Gran Tierra plans to allocate 25% of its capital program to exploration, with multiple wells to be drilled across its operational regions. Analysts from Bank of America and RBC Capital Markets noted the company’s strategic focus on execution and production growth for the coming years.
Gran Tierra’s stock price fell by 11.64% following the earnings announcement, reflecting investor concerns over future earnings forecasts. Despite the stock’s decline, the company remains committed to long-term shareholder value creation, evidenced by its repurchase of 6.7% of outstanding shares. The company also aims to reduce gross debt to $600 million by the end of 2026 and $500 million by 2027.
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