Gran Tierra Energy (NYSE:GTE) Trading Up 2.7% – Here’s What Happened

Shares of Gran Tierra Energy Inc. (NYSE:GTE) traded up 2.7% during mid-day trading on Monday . The stock traded as high as $8.62 and last traded at $8.43. 860,270 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 750,746 shares. The stock had previously closed at $8.21.

Analysts Set New Price Targets

GTE has been the topic of several analyst reports. Canaccord Genuity Group downgraded shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 27th. Roth Mkm cut Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gran Tierra Energy presently has an average rating of “Hold” and a consensus target price of $5.45.

Gran Tierra Energy Stock Performance

The company has a market cap of $297.57 million, a P/E ratio of 5.90 and a beta of 0.35. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The stock’s 50-day moving average price is $5.87 and its 200 day moving average price is $4.78.

Insiders Place Their Bets

In other news, major shareholder Daniel Lau purchased 360,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was bought at an average cost of $3.95 per share, for a total transaction of $1,422,000.00. Following the completion of the acquisition, the insider directly owned 3,531,200 shares of the company’s stock, valued at approximately $13,948,240. The trade was a 11.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gran Tierra Energy

Institutional investors have recently made changes to their positions in the business. Equinox Partners Investment Management LLC lifted its position 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 worth $27,057,000 after purchasing an additional 1,283,783 shares during the last quarter. LM Asset Management Inc. boosted its stake in 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 valued at $15,652,000 after purchasing an additional 899,620 shares during the period. LM Asset IM Inc. grew its holdings in Gran Tierra Energy by 13.4% in the 2nd quarter. LM Asset IM Inc. now owns 1,945,800 shares of the company’s stock valued at $9,281,000 after buying an additional 229,200 shares during the last quarter. American Century Companies Inc. grew its holdings in Gran Tierra Energy by 8.2% in 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 during the last quarter. Finally, Bridgeway Capital Management LLC increased its position in Gran Tierra Energy by 0.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock worth $2,372,000 after buying an additional 5,098 shares during the period. 31.70% of the stock is currently owned by institutional investors.

About Gran Tierra Energy

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.