Gran Tierra Energy (NYSE:GTE) Trading Down 3.7% – Time to Sell?

Gran Tierra Energy Inc. (NYSE:GTE)’s share price fell 3.7% during trading on Thursday . The stock traded as low as $4.90 and last traded at $4.92. 350,570 shares were traded during mid-day trading, a decline of 34% from the average session volume of 531,469 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

Separately, Roth Mkm initiated coverage on Gran Tierra Energy in a report on Friday, December 12th. They set a “buy” rating and a $5.45 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $5.45.

Gran Tierra Energy Price Performance

The firm has a 50-day simple moving average of $4.39 and a 200-day simple moving average of $4.25. The firm has a market capitalization of $173.66 million, a PE ratio of 3.44 and a beta of 0.30. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19.

Insider Buying and Selling

In other Gran Tierra Energy news, major shareholder Daniel Lau purchased 360,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $3.95 per share, for a total transaction of $1,422,000.00. Following the purchase, the insider directly owned 3,531,200 shares of the company’s stock, valued at $13,948,240. The trade was a 11.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Equinox Partners Investment Ma bought 276,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average cost of $3.79 per share, for a total transaction of $1,046,040.00. Following the completion of the acquisition, the director owned 2,255,590 shares in the company, valued at $8,548,686.10. This trade represents a 13.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 1,643,783 shares of company stock worth $6,690,541. 6.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gran Tierra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTE. Goldman Sachs Group Inc. raised its stake in Gran Tierra Energy by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock worth $484,000 after acquiring an additional 6,015 shares during the period. Empowered Funds LLC increased its stake in shares of Gran Tierra Energy by 7.2% in the first quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock worth $1,150,000 after purchasing an additional 15,719 shares in the last quarter. Creative Planning bought a new stake in shares of Gran Tierra Energy during the 2nd quarter valued at $117,000. American Century Companies Inc. lifted its stake in shares of Gran Tierra Energy by 8.2% during the 2nd quarter. American Century Companies Inc. now owns 1,409,583 shares of the company’s stock valued at $6,724,000 after buying an additional 106,478 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Gran Tierra Energy in the 2nd quarter worth $92,000. 31.70% of the stock is owned by hedge funds and other institutional investors.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.