Gran Tierra Energy Inc. $GTE is LM Asset IM Inc.’s 4th Largest Position

LM Asset IM Inc. grew its position in Gran Tierra Energy Inc. (NYSE:GTE) by 13.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,945,800 shares of the company’s stock after acquiring an additional 229,200 shares during the quarter. Gran Tierra Energy comprises about 8.6% of LM Asset IM Inc.’s holdings, making the stock its 4th largest position. LM Asset IM Inc. owned 0.06% of Gran Tierra Energy worth $9,281,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Equinox Partners Investment Management LLC boosted its stake in Gran Tierra Energy by 37.2% during the 2nd quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company’s stock worth $24,316,000 after purchasing an additional 1,381,574 shares during the period. Encompass Capital Advisors LLC raised its holdings in shares of Gran Tierra Energy by 33.4% in the first quarter. Encompass Capital Advisors LLC now owns 2,500,589 shares of the company’s stock valued at $12,328,000 after buying an additional 625,562 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Gran Tierra Energy by 8.2% during the second quarter. American Century Companies Inc. now owns 1,409,583 shares of the company’s stock worth $6,724,000 after buying an additional 106,478 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Gran Tierra Energy by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 558,374 shares of the company’s stock worth $2,753,000 after buying an additional 6,219 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Gran Tierra Energy by 897.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 346,499 shares of the company’s stock worth $1,693,000 after buying an additional 311,761 shares during the last quarter. 31.70% of the stock is owned by institutional investors and hedge funds.

Gran Tierra Energy Trading Down 3.2%

Shares of Gran Tierra Energy stock opened at $3.90 on Friday. The firm has a market cap of $137.65 million, a price-to-earnings ratio of 2.73 and a beta of 0.35. Gran Tierra Energy Inc. has a 52-week low of $3.09 and a 52-week high of $8.19. The company’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $4.41. 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 Transactions at Gran Tierra Energy

In other Gran Tierra Energy news, Director Equinox Partners Investment Ma bought 276,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $3.79 per share, with a total value of $1,046,040.00. Following the purchase, the director owned 2,255,590 shares in the company, valued at approximately $8,548,686.10. This represents a 13.94% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders purchased 1,283,783 shares of company stock worth $5,268,541. Insiders own 6.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital began coverage on Gran Tierra Energy in a research note on Friday. They set a “buy” rating and a $5.45 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.45.

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.