Gran Tierra Energy (NYSE:GTE) Rating Lowered to Buy at StockNews.com

StockNews.com cut shares of Gran Tierra Energy (NYSE:GTE) from a strong-buy rating to a buy rating in a research note released on Monday.

Gran Tierra Energy Stock Up 3.0 %

NYSE:GTE opened at $7.80 on Monday. The stock’s 50 day moving average price is $9.46. The stock has a market cap of $244.39 million, a P/E ratio of 78.00 and a beta of 1.60. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 1.38. Gran Tierra Energy has a 52-week low of $4.72 and a 52-week high of $10.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Main Street Financial Solutions LLC grew its stake in shares of Gran Tierra Energy by 204.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 450,403 shares of the company’s stock valued at $4,355,000 after purchasing an additional 302,583 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Gran Tierra Energy by 46.8% in the 2nd quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock valued at $7,023,000 after purchasing an additional 231,595 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $465,000. Intact Investment Management Inc. purchased a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $696,000. Finally, Equinox Partners Investment Management LLC purchased a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $7,735,000. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an international oil and gas exploration and production company, headquartered in Calgary, Canada, incorporated and traded in the United States and operating in South America. Gran Tierra Energy holds interests in producing and prospective properties in Argentina, Colombia and Peru.