Gran Tierra Energy (NYSE:GTE) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a buy rating in a report published on Wednesday morning.

Gran Tierra Energy Price Performance

Shares of Gran Tierra Energy stock opened at $6.77 on Wednesday. Gran Tierra Energy has a 52-week low of $4.72 and a 52-week high of $10.40. The stock has a market capitalization of $207.50 million, a price-to-earnings ratio of 4.73 and a beta of 1.56. The company has a fifty day moving average of $6.33 and a 200-day moving average of $7.89. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31.

Insiders Place Their Bets

In other Gran Tierra Energy news, CFO Ryan Ellson purchased 12,000 shares of Gran Tierra Energy stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $6.29 per share, for a total transaction of $75,480.00. Following the completion of the transaction, the chief financial officer now owns 94,666 shares of the company’s stock, valued at approximately $595,449.14. This trade represents a 14.52 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gary Guidry purchased 40,000 shares of Gran Tierra Energy stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $6.11 per share, for a total transaction of $244,400.00. Following the transaction, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at $3,211,855.92. The trade was a 8.24 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 67,000 shares of company stock worth $410,330. 7.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd grew its holdings in Gran Tierra Energy by 123.3% during the 1st quarter. Quadrature Capital Ltd now owns 60,056 shares of the company’s stock worth $430,000 after acquiring an additional 33,167 shares in the last quarter. Equinox Partners Investment Management LLC acquired a new stake in Gran Tierra Energy in the 2nd quarter valued at $7,735,000. Intact Investment Management Inc. purchased a new position in Gran Tierra Energy in the 2nd quarter valued at $696,000. Quest Partners LLC purchased a new position in shares of Gran Tierra Energy during the 2nd quarter worth $465,000. Finally, American Century Companies Inc. raised its holdings in shares of Gran Tierra Energy by 46.8% during the 2nd quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock worth $7,023,000 after acquiring an additional 231,595 shares during the period. 31.70% of the stock is owned by hedge funds and other institutional investors.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.