Gran Tierra Energy (NYSE:GTE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a buy rating in a research note released on Wednesday morning.

Gran Tierra Energy Stock Up 1.6 %

GTE stock opened at $6.88 on Wednesday. The company’s 50 day moving average is $6.36 and its 200 day moving average is $7.87. The stock has a market cap of $210.87 million, a price-to-earnings ratio of 4.78 and a beta of 1.56. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. Gran Tierra Energy has a 1-year low of $4.72 and a 1-year high of $10.40.

Insider Transactions at Gran Tierra Energy

In other news, CEO Gary Guidry bought 15,000 shares of Gran Tierra Energy stock in a transaction that occurred on Tuesday, September 17th. The shares were acquired at an average price of $6.03 per share, with a total value of $90,450.00. Following the completion of the purchase, the chief executive officer now directly owns 440,672 shares in the company, valued at $2,657,252.16. The trade was a 3.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ryan Ellson purchased 12,000 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $6.29 per share, for a total transaction of $75,480.00. Following the transaction, the chief financial officer now directly owns 94,666 shares of the company’s stock, valued at approximately $595,449.14. This represents a 14.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 67,000 shares of company stock valued at $410,330 in the last quarter. Insiders own 6.45% of the company’s stock.

Institutional Trading of Gran Tierra Energy

A number of hedge funds have recently bought and sold shares of GTE. Equinox Partners Investment Management LLC grew its position in Gran Tierra Energy by 159.0% during the third quarter. Equinox Partners Investment Management LLC now owns 2,071,626 shares of the company’s stock valued at $12,989,000 after acquiring an additional 1,271,680 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in shares of 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 valued at $4,355,000 after purchasing an additional 302,583 shares during the last quarter. American Century Companies Inc. raised its position in Gran Tierra Energy by 46.8% in the 2nd quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock worth $7,023,000 after purchasing an additional 231,595 shares during the period. Intact Investment Management Inc. purchased a new position in Gran Tierra Energy in the 2nd quarter worth $696,000. Finally, Empowered Funds LLC lifted its stake in Gran Tierra Energy by 39.3% in the third quarter. Empowered Funds LLC now owns 207,067 shares of the company’s stock worth $1,298,000 after purchasing an additional 58,438 shares during the last quarter. Institutional investors own 31.70% of the company’s stock.

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.