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Gran Tierra (GTE) to Report Q3 Earnings: What's in Store?

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Gran Tierra Energy Inc. (GTE - Free Report) is set to report third-quarter 2019 results on Nov 5, after the closing bell.

Let’s see how things are shaping up prior to the announcement.

Which Way are Estimates Headed?

Let’s take a look at the estimate revision trend to get a clear picture of what analysts feel about the upstream energy player prior to the earnings release.

The Zacks Consensus Estimate for third-quarter earnings of 5 cents per share has seen no upward and downward revisions in the past 30 days. The figure suggests a year-over-year decline of 72.2%.

Factors to Consider

The Zacks Consensus Estimate for the company’s production in third-quarter 2019 is pegged at 36,418 barrel of oil equivalent per day (BOE/D), suggesting a marginal improvement of 0.7% from the year-ago quarter. Being an exploration and production player, the company is likely to have benefited from higher production. However, weaker year-over-year oil prices is expected to have partially offset the positive.

Earnings Whispers

Our proven model does not indicate an earnings beat for Gran Tierra. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases chances of an earnings beat. That is not the case here as you will see below. 

Earnings ESP: The company’s Earnings ESP is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 5 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Gran Tierra currently carries a Zacks Rank #3 (Hold).

Highlights of Q2 Earnings & Earnings History

In the last reported quarter, the company delivered earnings of 6 cents per share that beat the Zacks Consensus Estimate of 4 cents and improved from the year-ago quarter earnings of 5 cents.

Notably, Gran Tierra has an average positive earnings surprise of 5% for the past four quarters, as shown in the chart below.

Gran Tierra Energy Inc. Price and EPS Surprise

Gran Tierra Energy Inc. Price and EPS Surprise

Gran Tierra Energy Inc. price-eps-surprise | Gran Tierra Energy Inc. Quote

Stocks That Warrant a Look

Though an earnings beat looks uncertain for Gran Tierra, here are a few firms that you may want to consider on the basis of our model. These have the right combination of elements to post an earnings beat in the upcoming quarterly reports:   

Plains All American Pipeline LP (PAA - Free Report) has an Earnings ESP of +0.43% and is Zacks #3 Ranked. The company is scheduled to release earnings on Nov 5. You can see the complete list of today’s Zacks #1 Rank stocks here

Chesapeake Energy Corporation (CHK - Free Report) has an Earnings ESP of +8.24% and a Zacks Rank of 3. The company is slated to announce third-quarter 2019 earnings on Nov 5.

Pioneer Natural Resources Company (PXD - Free Report) has an Earnings ESP of +1.98% and is Zacks #3 Ranked. The company is scheduled to release earnings on Nov 4.

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