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

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

Gran Tierra Energy Trading Down 3.0 %

Gran Tierra Energy stock opened at $6.10 on Friday. The company has a market cap of $186.97 million, a price-to-earnings ratio of 4.27 and a beta of 1.56. Gran Tierra Energy has a 12-month low of $4.72 and a 12-month high of $10.40. The business has a 50-day moving average price of $6.31. 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 Activity

In related news, CEO Gary Guidry bought 40,000 shares of Gran Tierra Energy stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $6.11 per share, with a total value of $244,400.00. Following the completion of the transaction, the chief executive officer now owns 525,672 shares in the company, valued at $3,211,855.92. The trade was a 8.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ryan Ellson purchased 12,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were bought at an average cost of $6.29 per share, with a total value of $75,480.00. Following the purchase, the chief financial officer now directly owns 94,666 shares of the company’s stock, valued at approximately $595,449.14. This represents a 14.52 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 67,000 shares of company stock valued at $410,330. 6.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GTE. Barclays PLC lifted its holdings in shares of Gran Tierra Energy by 25.6% in the 3rd quarter. Barclays PLC now owns 33,755 shares of the company’s stock worth $211,000 after buying an additional 6,875 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Gran Tierra Energy in the third quarter valued at about $200,000. Quarry LP purchased a new stake in Gran Tierra Energy in the third quarter worth about $52,000. Centiva Capital LP purchased a new stake in Gran Tierra Energy in the third quarter worth about $73,000. Finally, PDT Partners LLC increased its position in Gran Tierra Energy by 13.1% during the 3rd quarter. PDT Partners LLC now owns 60,653 shares of the company’s stock valued at $380,000 after purchasing an additional 7,030 shares during the period. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

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.