Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 104,348 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 104,348 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $9.05, for a total transaction of $944,349.40. Following the completion of the transaction, the insider directly owned 403,333 shares in the company, valued at $3,650,163.65. This represents a 20.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.08, for a total value of $1,032,441.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Stock Performance

NYSE GTE opened at $9.53 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. The stock’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $7.45. The company has a market cap of $337.17 million, a PE ratio of 6.66 and a beta of 0.13. Gran Tierra Energy Inc. has a 1-year low of $3.09 and a 1-year high of $11.52.

Analyst Ratings Changes

GTE has been the subject of a number of research reports. Roth Capital reaffirmed a “buy” rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Gran Tierra Energy currently has a consensus rating of “Buy” and an average price target of $9.72.

Hedge Funds Weigh In On Gran Tierra Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Gran Tierra Energy by 270.3% during the second quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock worth $76,000 after buying an additional 11,651 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gran Tierra Energy in the 4th quarter worth $81,000. nVerses Capital LLC purchased a new position in shares of Gran Tierra Energy during the 4th quarter worth $84,000. XTX Topco Ltd purchased a new position in shares of Gran Tierra Energy during the 2nd quarter worth $92,000. Finally, Marshall Wace LLP acquired a new position in shares of Gran Tierra Energy during the 2nd quarter valued at about $97,000. Hedge funds and other 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.