Gran Tierra Energy (NYSE:GTE) Major Shareholder Acquires $1,422,000.00 in Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Daniel Lau bought 360,000 shares of Gran Tierra Energy stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $3.95 per share, for a total transaction of $1,422,000.00. Following the completion of the acquisition, the insider owned 3,531,200 shares in the company, valued at $13,948,240. This represents a 11.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gran Tierra Energy Stock Down 2.0%

Shares of NYSE:GTE traded down $0.08 during trading on Friday, hitting $3.85. The company’s stock had a trading volume of 685,228 shares, compared to its average volume of 350,853. Gran Tierra Energy Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $8.19. The business has a 50 day moving average price of $4.19 and a two-hundred day moving average price of $4.39. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The company has a market capitalization of $135.89 million, a PE ratio of 2.69 and a beta of 0.35.

Analyst Upgrades and Downgrades

Separately, Roth Capital initiated coverage on Gran Tierra Energy in a research note on Friday, December 12th. They issued a “buy” rating and a $5.45 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.45.

Hedge Funds Weigh In On Gran Tierra Energy

Several large investors have recently bought and sold shares of the business. Equinox Partners Investment Management LLC raised its stake in Gran Tierra Energy by 37.2% in the second quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company’s stock valued at $24,316,000 after buying an additional 1,381,574 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Gran Tierra Energy by 33.4% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,500,589 shares of the company’s stock valued at $12,328,000 after acquiring an additional 625,562 shares during the last quarter. LM Asset IM Inc. raised its position in shares of Gran Tierra Energy by 13.4% during the 2nd quarter. LM Asset IM Inc. now owns 1,945,800 shares of the company’s stock worth $9,281,000 after acquiring an additional 229,200 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Gran Tierra Energy during the 3rd quarter worth about $633,000. Finally, American Century Companies Inc. lifted its stake in Gran Tierra Energy by 11.3% during the first quarter. American Century Companies Inc. now owns 1,303,105 shares of the company’s stock worth $6,424,000 after purchasing an additional 131,818 shares during the last quarter. Hedge funds and other institutional investors own 31.70% of the company’s stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.