Gran Tierra Energy (NYSE:GTE) Stock Price Up 2.7% – Here’s Why

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

Analyst Ratings Changes

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

Gran Tierra Energy Price Performance

The stock has a market cap of $285.92 million, a PE ratio of 5.66 and a beta of 0.35. The company has a 50-day simple moving average of $6.05 and a 200-day simple moving average of $4.84. 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 Transactions at Gran Tierra Energy

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Equinox Partners Investment Management LLC grew its holdings in shares of Gran Tierra Energy by 37.2% during the second quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company’s stock worth $24,316,000 after buying an additional 1,381,574 shares in the last quarter. LM Asset Management Inc. boosted its position in Gran Tierra Energy by 32.2% during the fourth 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 during the last quarter. LM Asset IM Inc. grew its stake 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 worth $9,281,000 after acquiring an additional 229,200 shares during the period. Jane Street Group LLC grew its stake in Gran Tierra Energy by 331.8% in the 4th quarter. Jane Street Group LLC now owns 214,231 shares of the company’s stock worth $908,000 after acquiring an additional 164,622 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Gran Tierra Energy in the 3rd quarter valued at $633,000. 31.70% of the stock is currently owned by hedge funds and other 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.