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

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

Gran Tierra Energy Stock Up 10.4 %

GTE stock opened at $6.77 on Wednesday. The company has a market cap of $207.50 million, a PE ratio of 4.73 and a beta of 1.56. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. Gran Tierra Energy has a 52 week low of $4.72 and a 52 week high of $10.40. The business has a 50-day simple moving average of $6.34 and a 200 day simple moving average of $7.88.

Insider Buying and Selling

In other news, CEO Gary Guidry acquired 40,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $6.11 per share, with a total value of $244,400.00. Following the completion of the purchase, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at $3,211,855.92. This represents a 8.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ryan Ellson purchased 12,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $6.29 per share, with a total value of $75,480.00. Following the completion of the transaction, the chief financial officer now owns 94,666 shares in the company, valued at approximately $595,449.14. This trade represents a 14.52 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 67,000 shares of company stock worth $410,330. Corporate insiders own 7.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Gran Tierra Energy during the 3rd quarter valued at approximately $52,000. Centiva Capital LP bought a new stake in Gran Tierra Energy during the third quarter valued at $73,000. Dynamic Technology Lab Private Ltd acquired a new stake in Gran Tierra Energy during the 3rd quarter worth about $89,000. Victory Capital Management Inc. acquired a new stake in Gran Tierra Energy during the 3rd quarter worth about $121,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Gran Tierra Energy in the 3rd quarter worth about $200,000. 31.70% of the stock is owned by institutional investors.

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.