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

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

Gran Tierra Energy Stock Down 3.0 %

Gran Tierra Energy stock opened at $6.10 on Friday. Gran Tierra Energy has a twelve month low of $4.72 and a twelve month high of $10.40. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. The stock has a fifty day simple moving average of $6.31. The company has a market capitalization of $186.97 million, a P/E ratio of 4.27 and a beta of 1.56.

Insider Buying and Selling

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

Institutional Trading of Gran Tierra Energy

A number of institutional investors have recently made changes to their positions in GTE. Hillsdale Investment Management Inc. purchased a new stake in Gran Tierra Energy during the first quarter worth $203,000. Quadrature Capital Ltd lifted its position in Gran Tierra Energy by 123.3% in 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 last quarter. Equinox Partners Investment Management LLC acquired a new position in Gran Tierra Energy in the second quarter valued at $7,735,000. Intact Investment Management Inc. purchased a new stake in Gran Tierra Energy during the 2nd quarter valued at approximately $696,000. Finally, Quest Partners LLC acquired a new position in Gran Tierra Energy during the 2nd quarter worth approximately $465,000. Institutional investors and hedge funds 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.