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

Gran Tierra Energy (NYSE:GTE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Gran Tierra Energy Price Performance

GTE stock traded up $0.64 during trading on Wednesday, hitting $6.77. The company had a trading volume of 870,847 shares, compared to its average volume of 336,638. The firm has a market capitalization of $207.50 million, a price-to-earnings ratio of 4.73 and a beta of 1.56. The business has a 50 day moving average of $6.33 and a 200 day moving average of $7.89. Gran Tierra Energy has a fifty-two week low of $4.72 and a fifty-two week high of $10.40. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71.

Insider Buying and Selling

In other Gran Tierra Energy news, CFO Ryan Ellson purchased 12,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $6.29 per share, for a total transaction of $75,480.00. Following the completion of the transaction, the chief financial officer now owns 94,666 shares in the company, valued at $595,449.14. The trade was a 14.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary Guidry purchased 40,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average price of $6.11 per share, for a total transaction 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 $3,211,855.92. This represents a 8.24 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 67,000 shares of company stock valued at $410,330 over the last 90 days. 7.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gran Tierra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. raised its position in Gran Tierra Energy by 46.8% in the second quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock worth $7,023,000 after acquiring an additional 231,595 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Gran Tierra Energy during the 2nd quarter worth about $696,000. Quadrature Capital Ltd raised its holdings 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 buying an additional 33,167 shares during the period. Equinox Partners Investment Management LLC acquired a new stake in Gran Tierra Energy during the 2nd quarter worth about $7,735,000. Finally, Main Street Financial Solutions LLC raised its holdings in 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 during the period. 31.70% of the stock is currently owned by institutional investors.

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.