StockNews.com Upgrades Gran Tierra Energy (NYSE:GTE) to “Buy”

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

Gran Tierra Energy Trading Up 2.3 %

Shares of NYSE:GTE opened at $6.24 on Friday. 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. The stock’s fifty day moving average price is $6.31. The stock has a market capitalization of $191.26 million, a price-to-earnings ratio of 4.36 and a beta of 1.56.

Insider Buying and Selling

In other Gran Tierra Energy news, CFO Ryan Ellson bought 12,000 shares of the stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $6.29 per share, with a total value of $75,480.00. Following the completion of the transaction, the chief financial officer now directly owns 94,666 shares of the company’s stock, valued at $595,449.14. This represents a 14.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Guidry bought 40,000 shares of the stock in a transaction on Thursday, September 19th. The shares were acquired at an average cost of $6.11 per share, for a total transaction of $244,400.00. Following the completion of the transaction, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at approximately $3,211,855.92. The trade was a 8.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 67,000 shares of company stock worth $410,330. Corporate insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Gran Tierra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its stake in Gran Tierra Energy by 46.8% during the second quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock valued at $7,023,000 after acquiring an additional 231,595 shares during the period. Intact Investment Management Inc. bought a new position in Gran Tierra Energy during the second quarter valued at about $696,000. Quadrature Capital Ltd increased its stake in Gran Tierra Energy by 123.3% during the first quarter. Quadrature Capital Ltd now owns 60,056 shares of the company’s stock valued at $430,000 after acquiring an additional 33,167 shares during the period. Equinox Partners Investment Management LLC acquired a new stake in Gran Tierra Energy during the second quarter valued at approximately $7,735,000. Finally, Main Street Financial Solutions LLC boosted its holdings in Gran Tierra Energy by 204.7% during the second 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 in the last quarter. 31.70% of the stock is owned by institutional investors and hedge funds.

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.