Gran Tierra Energy (NYSE:GTE) Rating Increased to Buy at StockNews.com

Gran Tierra Energy (NYSE:GTE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Gran Tierra Energy Trading Down 3.3 %

NYSE:GTE traded down $0.21 during trading hours on Friday, hitting $6.09. 256,412 shares of the company traded hands, compared to its average volume of 335,573. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. Gran Tierra Energy has a twelve month low of $4.72 and a twelve month high of $10.40. The stock’s 50-day moving average price is $6.31. The company has a market capitalization of $186.51 million, a PE ratio of 4.26 and a beta of 1.56.

Insider Buying and Selling at Gran Tierra Energy

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

Hedge Funds Weigh In On Gran Tierra Energy

Large investors have recently bought and sold shares of the company. Equinox Partners Investment Management LLC raised its stake in shares of Gran Tierra Energy by 159.0% during the 3rd quarter. Equinox Partners Investment Management LLC now owns 2,071,626 shares of the company’s stock worth $12,989,000 after purchasing an additional 1,271,680 shares in the last quarter. Renaissance Technologies LLC grew its position in Gran Tierra Energy by 2.6% during the second quarter. Renaissance Technologies LLC now owns 780,180 shares of the company’s stock worth $7,544,000 after buying an additional 20,100 shares in the last quarter. American Century Companies Inc. increased its stake in Gran Tierra Energy by 46.8% during the 2nd quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock worth $7,023,000 after acquiring an additional 231,595 shares during the period. Main Street Financial Solutions LLC lifted its position 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 worth $4,355,000 after purchasing an additional 302,583 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Gran Tierra Energy by 39.3% during the 3rd quarter. Empowered Funds LLC now owns 207,067 shares of the company’s stock worth $1,298,000 after acquiring an additional 58,438 shares in the last quarter. Institutional investors and hedge funds own 31.70% of the company’s stock.

About Gran Tierra Energy

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.