Gran Tierra Energy (NYSE:GTE) Raised to Strong-Buy at Canaccord Genuity Group

Gran Tierra Energy (NYSE:GTE) was upgraded by research analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Roth Mkm downgraded shares of Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 29th. Raymond James Financial upgraded shares of Gran Tierra Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Gran Tierra Energy presently has a consensus rating of “Buy” and a consensus price target of $9.73.

Gran Tierra Energy Trading Down 0.1%

Shares of Gran Tierra Energy stock opened at $7.84 on Tuesday. The company’s fifty day simple moving average is $7.34 and its 200-day simple moving average is $5.44. The stock has a market capitalization of $276.74 million, a PE ratio of 5.48 and a beta of 0.14. Gran Tierra Energy has a 1-year low of $3.09 and a 1-year high of $9.74. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Equinox Partners Investment Management LLC boosted its holdings in shares of Gran Tierra Energy by 25.2% during the 4th quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock valued at $27,057,000 after purchasing an additional 1,283,783 shares during the last quarter. LM Asset Management Inc. raised its holdings in shares of Gran Tierra Energy by 32.2% during the 4th quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company’s stock worth $15,652,000 after acquiring an additional 899,620 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Gran Tierra Energy by 0.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock worth $2,372,000 after acquiring an additional 5,098 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Gran Tierra Energy by 7.2% during the 1st quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock worth $1,150,000 after acquiring an additional 15,719 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Gran Tierra Energy by 148.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 217,505 shares of the company’s stock worth $922,000 after acquiring an additional 129,973 shares in the last quarter. Institutional investors own 31.70% of the company’s stock.

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.