Gran Tierra Energy (NYSE:GTE) Rating Increased to Moderate Buy at Raymond James Financial

Raymond James Financial upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a moderate buy rating in a research report released on Monday,Zacks.com reports.

GTE has been the subject of several other reports. Canaccord Genuity Group lowered shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 27th. Roth Mkm lowered shares of Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Gran Tierra Energy presently has an average rating of “Moderate Buy” and an average target price of $5.45.

Gran Tierra Energy Stock Up 1.9%

GTE stock opened at $9.24 on Monday. The firm has a market cap of $326.16 million, a price-to-earnings ratio of 6.46 and a beta of 0.35. Gran Tierra Energy has a 1-year low of $3.09 and a 1-year high of $9.65. The firm has a fifty day moving average price of $6.69 and a two-hundred day moving average price of $5.11. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19.

Institutional Investors Weigh In On Gran Tierra Energy

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its stake in Gran Tierra Energy by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock valued at $484,000 after buying an additional 6,015 shares during the last quarter. Empowered Funds LLC grew its position in shares of Gran Tierra Energy by 7.2% during the first quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock worth $1,150,000 after acquiring an additional 15,719 shares during the last quarter. Creative Planning acquired a new stake in shares of Gran Tierra Energy in the 2nd quarter worth about $117,000. American Century Companies Inc. increased its holdings in shares of Gran Tierra Energy by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 1,409,583 shares of the company’s stock worth $6,724,000 after acquiring an additional 106,478 shares during the period. Finally, XTX Topco Ltd bought a new stake in Gran Tierra Energy in the 2nd quarter valued at about $92,000. 31.70% of the stock is owned by institutional investors and hedge funds.

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.