Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Gran Tierra Energy (GTE 0.86%) jumped 10% today after the company released earnings.
So what: Revenue jumped 32% from a year ago to $205.4 million and net income swung from a loss to a profit of $57.9 million, or $0.20 per share. Analysts only expected $180.1 million in revenue and $0.16 per share in earnings.
Now what: Increased production drove the results and offset a slight decline in realized price per barrel of oil. This strong showing is the third consecutive quarter the company has beaten estimates and completes a full year of profitable operations. I don't think investors have priced in the upside for Gran Tierra Energy, and with operations moving forward quickly, the stock can move higher as profits grow.
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