Russell Investments Group Ltd. reduced its stake in Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) by 70.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,800 shares of the company’s stock after selling 648,200 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Gran Tierra Energy worth $723,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of GTE. WFG Advisors LP raised its position in shares of Gran Tierra Energy by 34.5% in the fourth quarter. WFG Advisors LP now owns 2,589 shares of the company’s stock worth $150,000 after buying an additional 664 shares during the period. A.R.T. Advisors LLC increased its stake in shares of Gran Tierra Energy by 879.4% in the fourth quarter. A.R.T. Advisors LLC now owns 190,000 shares of the company’s stock worth $573,000 after buying an additional 170,600 shares during the period. AQR Capital Management LLC increased its stake in shares of Gran Tierra Energy by 42.7% in the fourth quarter. AQR Capital Management LLC now owns 229,029 shares of the company’s stock worth $692,000 after buying an additional 68,577 shares during the period. GSA Capital Partners LLP increased its stake in shares of Gran Tierra Energy by 8.8% in the fourth quarter. GSA Capital Partners LLP now owns 277,988 shares of the company’s stock worth $840,000 after buying an additional 22,551 shares during the period. Finally, Highbridge Capital Management LLC increased its stake in shares of Gran Tierra Energy by 5.6% in the fourth quarter. Highbridge Capital Management LLC now owns 330,997 shares of the company’s stock worth $1,000,000 after buying an additional 17,443 shares during the period.
Shares of Gran Tierra Energy Inc (TSE GTE) traded up 2.88% during mid-day trading on Wednesday, hitting $2.86. The stock had a trading volume of 58,100 shares. The company has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.43. Gran Tierra Energy Inc has a 12-month low of $2.65 and a 12-month high of $4.40. The firm’s market cap is $1.14 billion.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.54. Gran Tierra Energy had a net margin of 13.43% and a return on equity of 5.52%. The firm had revenue of $94.66 million during the quarter, compared to analysts’ expectations of $101.70 million. Equities analysts forecast that Gran Tierra Energy Inc will post $0.13 earnings per share for the current fiscal year.
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A number of brokerages recently commented on GTE. Scotiabank restated an “outperform” rating and set a C$6.00 target price on shares of Gran Tierra Energy in a report on Friday, March 24th. Cormark assumed coverage on Gran Tierra Energy in a research note on Monday, March 20th. They issued a “buy” rating for the company. TD Securities reiterated an “action list buy” rating and issued a C$6.50 price objective on shares of Gran Tierra Energy in a research note on Friday, May 5th. Credit Suisse Group set a C$4.00 target price on Gran Tierra Energy and gave the stock a “buy” rating in a research note on Thursday, May 4th. Finally, Zacks Investment Research upgraded Gran Tierra Energy from a “hold” rating to a “strong-buy” rating and set a C$3.00 target price for the company in a research note on Tuesday, March 14th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$4.91.
In other news, CFO Ryan Ellson bought 16,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were bought at an average cost of C$2.38 per share, with a total value of C$38,080.00. Following the acquisition, the chief financial officer now owns 236,030 shares in the company, valued at C$561,751.40. Also, insider Rodger Derrick Trimble purchased 15,150 shares of the stock in a transaction on Friday, May 5th. The stock was bought at an average cost of C$2.40 per share, for a total transaction of C$36,360.00. Insiders purchased a total of 439,150 shares of company stock valued at $1,068,370 in the last 90 days.
Gran Tierra Energy Company Profile
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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