Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells $3,239,786.90 in Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 347,990 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $9.31, for a total transaction of $3,239,786.90. Following the completion of the transaction, the insider owned 299,625 shares in the company, valued at approximately $2,789,508.75. The trade was a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Thursday, August 13th, Equinox Partners Investment Ma sold 326,959 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.23, for a total transaction of $3,017,831.57.
• On Wednesday, August 12th, Equinox Partners Investment Ma sold 165,377 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.49, for a total transaction of $1,569,427.73.
• On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.30, for a total transaction of $2,311,143.00.
• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.08, for a total value of $1,032,441.40.
• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.05, for a total value of $944,349.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Stock Performance

Shares of GTE opened at $9.81 on Thursday. The firm has a market cap of $347.08 million, a PE ratio of 6.86 and a beta of 0.13. The stock’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $7.61. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. Gran Tierra Energy Inc. has a 1 year low of $3.09 and a 1 year high of $11.52.

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors have recently made changes to their positions in GTE. Empowered Funds LLC purchased a new position in shares of Gran Tierra Energy in the second quarter valued at $2,254,000. Bank of America Corp DE purchased a new stake in Gran Tierra Energy during the 2nd quarter worth about $432,000. Hsbc Holdings PLC purchased a new stake in Gran Tierra Energy during the 2nd quarter worth about $154,000. PDT Partners LLC purchased a new stake in Gran Tierra Energy during the 2nd quarter worth about $171,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Gran Tierra Energy in the 2nd quarter worth about $3,294,000. Hedge funds and other institutional investors own 31.70% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Capital reiterated a “buy” rating on shares of Gran Tierra Energy in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of “Buy” and a consensus target price of $9.72.

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.