Gran Tierra Energy (NYSE:GTE) Trading 1.9% Higher – Here’s Why

Gran Tierra Energy Inc. (NYSE:GTE) shares traded up 1.9% during mid-day trading on Thursday . The stock traded as high as $8.17 and last traded at $8.04. 359,761 shares traded hands during trading, a decline of 44% from the average session volume of 636,887 shares. The stock had previously closed at $7.89.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group set a $14.00 target price on Gran Tierra Energy in a report on Tuesday, April 14th. Raymond James Financial upgraded Gran Tierra Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.73.

Gran Tierra Energy Stock Performance

The company has a market cap of $274.75 million, a P/E ratio of 5.43 and a beta of 0.17. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The stock has a 50 day moving average price of $8.56 and a two-hundred day moving average price of $6.40.

Hedge Funds Weigh In On Gran Tierra Energy

A number of large investors have recently made changes to their positions in GTE. Equinox Partners Investment Management LLC increased its stake in shares of Gran Tierra Energy by 25.2% during the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock worth $27,057,000 after purchasing an additional 1,283,783 shares during the period. LM Asset Management Inc. grew its position in Gran Tierra Energy by 32.2% during the fourth quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company’s stock worth $15,652,000 after buying an additional 899,620 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Gran Tierra Energy by 2,226.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after buying an additional 578,397 shares in the last quarter. Jane Street Group LLC grew its position in Gran Tierra Energy by 331.8% during the fourth quarter. Jane Street Group LLC now owns 214,231 shares of the company’s stock worth $908,000 after buying an additional 164,622 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Gran Tierra Energy during the third quarter worth approximately $633,000. Institutional investors own 31.70% of the company’s stock.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.