Gran Tierra Energy (NYSE:GTE) Upgraded 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 issued on Friday.

Gran Tierra Energy Price Performance

NYSE GTE traded down $0.19 on Friday, reaching $6.10. The company had a trading volume of 258,435 shares, compared to its average volume of 335,573. The firm’s 50-day moving average is $6.31. The firm has a market capitalization of $186.97 million, a price-to-earnings ratio of 4.26 and a beta of 1.56. Gran Tierra Energy has a 1 year low of $4.72 and a 1 year high of $10.40. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71.

Insiders Place Their Bets

In other news, CFO Ryan Ellson acquired 12,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $6.29 per share, for a total transaction of $75,480.00. Following the completion of the acquisition, the chief financial officer now directly owns 94,666 shares in the company, valued at $595,449.14. This represents a 14.52 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary Guidry bought 40,000 shares of Gran Tierra Energy stock in a transaction that occurred on Thursday, September 19th. The shares were acquired at an average price of $6.11 per share, with a total value of $244,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at $3,211,855.92. This represents a 8.24 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 67,000 shares of company stock valued at $410,330 over the last 90 days. 6.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gran Tierra Energy

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in Gran Tierra Energy by 46.8% in the second quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock valued at $7,023,000 after acquiring an additional 231,595 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Gran Tierra Energy in the second quarter valued at about $696,000. Quadrature Capital Ltd lifted its holdings in shares of Gran Tierra Energy by 123.3% during the first quarter. Quadrature Capital Ltd now owns 60,056 shares of the company’s stock worth $430,000 after buying an additional 33,167 shares during the last quarter. Equinox Partners Investment Management LLC bought a new stake in shares of Gran Tierra Energy in the second quarter valued at about $7,735,000. Finally, Main Street Financial Solutions LLC boosted its stake in Gran Tierra Energy by 204.7% during the second quarter. Main Street Financial Solutions LLC now owns 450,403 shares of the company’s stock worth $4,355,000 after buying an additional 302,583 shares in the last quarter. Institutional investors and hedge funds own 31.70% of the company’s stock.

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.