Empowered Funds LLC Takes Position in Gran Tierra Energy Inc. $GTE

Empowered Funds LLC bought a new position in shares of Gran Tierra Energy Inc. (NYSE:GTE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 360,592 shares of the company’s stock, valued at approximately $2,254,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of Gran Tierra Energy by 2,226.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after acquiring an additional 578,397 shares during the last quarter. LM Asset Management Inc. acquired a new stake in Gran Tierra Energy in the 2nd quarter worth approximately $27,283,875. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Gran Tierra Energy in the 2nd quarter worth approximately $3,294,000. Equinox Partners Investment Management LLC grew its position in Gran Tierra Energy by 25.2% during the 4th quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock worth $27,057,000 after purchasing an additional 1,283,783 shares during the last quarter. Finally, Creative Planning acquired a new position in Gran Tierra Energy during the 2nd quarter valued at approximately $117,000. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Gran Tierra Energy Price Performance

Shares of NYSE GTE opened at $10.19 on Thursday. The business’s 50 day moving average price is $7.87 and its 200 day moving average price is $7.93. The firm has a market cap of $360.52 million, a P/E ratio of 7.13 and a beta of 0.19. Gran Tierra Energy Inc. has a 52 week low of $3.09 and a 52 week high of $11.52. 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 Activity at Gran Tierra Energy

In other news, major shareholder Equinox Partners Investment Ma sold 347,990 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $9.31, for a total value of $3,239,786.90. Following the sale, the insider owned 299,625 shares in the company, valued at $2,789,508.75. This represents 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 through the SEC website. Over the last quarter, insiders have sold 2,906,889 shares of company stock valued at $27,500,035. 5.75% of the stock is owned by corporate insiders.

Gran Tierra Energy 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.