Gran Tierra Energy Inc (GTE) Short Interest Down 3.1% in December

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Gran Tierra Energy Inc (NYSEAMERICAN:GTE) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 3,702,431 shares, a drop of 3.1% from the December 14th total of 3,818,988 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 1,416,818 shares, the short-interest ratio is currently 2.6 days.

GTE has been the subject of a number of recent analyst reports. Zacks Investment Research cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Citigroup reissued a “buy” rating on shares of Gran Tierra Energy in a research note on Monday, December 17th.

NYSEAMERICAN GTE opened at $2.42 on Friday. Gran Tierra Energy has a 52 week low of $2.03 and a 52 week high of $3.96.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its earnings results on Thursday, November 1st. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.12. The firm had revenue of $175.10 million during the quarter, compared to analyst estimates of $177.00 million. The firm’s quarterly revenue was up 68.7% on a year-over-year basis. During the same period last year, the business posted $0.01 earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. United Services Automobile Association increased its stake in shares of Gran Tierra Energy by 184.2% in the 3rd quarter. United Services Automobile Association now owns 40,009 shares of the company’s stock valued at $153,000 after buying an additional 25,932 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Gran Tierra Energy by 319.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 35,929 shares of the company’s stock worth $138,000 after purchasing an additional 27,362 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Gran Tierra Energy by 182.8% in the 3rd quarter. Jane Street Group LLC now owns 43,544 shares of the company’s stock worth $166,000 after purchasing an additional 28,144 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Gran Tierra Energy by 2.0% in the 3rd quarter. Toronto Dominion Bank now owns 1,460,251 shares of the company’s stock worth $5,562,000 after purchasing an additional 28,286 shares during the last quarter. Finally, BlueMountain Capital Management LLC boosted its position in shares of Gran Tierra Energy by 14.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 249,397 shares of the company’s stock worth $860,000 after purchasing an additional 32,352 shares during the last quarter.

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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. As of December 31, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

Further Reading: Liquidity

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