Gran Tierra Energy (NYSE:GTE) Upgraded by StockNews.com to “Buy” Rating

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

Gran Tierra Energy Stock Performance

Shares of GTE stock traded down $0.19 on Friday, hitting $6.10. 258,435 shares of the stock traded hands, compared to its average volume of 335,573. Gran Tierra Energy has a twelve month low of $4.72 and a twelve month high of $10.40. The company has a market capitalization of $186.97 million, a PE ratio of 4.26 and a beta of 1.56. The company’s 50-day moving average price is $6.31. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71.

Insider Transactions at Gran Tierra Energy

In related news, CFO Ryan Ellson bought 12,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were bought at an average price of $6.29 per share, with a total value of $75,480.00. Following the completion of the transaction, the chief financial officer now directly owns 94,666 shares of the company’s stock, valued at $595,449.14. This represents a 14.52 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary Guidry purchased 40,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $6.11 per share, with a total value of $244,400.00. Following the completion of the transaction, the chief executive officer now owns 525,672 shares of the company’s stock, valued at approximately $3,211,855.92. The trade was a 8.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 67,000 shares of company stock worth $410,330 in the last 90 days. Insiders own 6.45% of the company’s stock.

Hedge Funds Weigh In On Gran Tierra Energy

Several large investors have recently made changes to their positions in GTE. American Century Companies Inc. boosted its stake in shares of 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 purchasing an additional 231,595 shares during the period. Intact Investment Management Inc. acquired a new position in Gran Tierra Energy in the second quarter valued at $696,000. Quadrature Capital Ltd lifted its position 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 during the period. Equinox Partners Investment Management LLC purchased a new position in Gran Tierra Energy in the 2nd quarter valued at $7,735,000. Finally, Main Street Financial Solutions LLC raised its stake in shares of Gran Tierra Energy by 204.7% during the 2nd 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. 31.70% of the stock is currently owned by institutional investors and hedge funds.

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.