StockNews.com Downgrades Gran Tierra Energy (NYSE:GTE) to Hold

Gran Tierra Energy (NYSE:GTE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Gran Tierra Energy Price Performance

Shares of Gran Tierra Energy stock opened at $6.75 on Tuesday. The company has a 50 day moving average of $6.43. The firm has a market capitalization of $207.56 million, a price-to-earnings ratio of 4.40 and a beta of 1.56. Gran Tierra Energy has a fifty-two week low of $4.72 and a fifty-two week high of $10.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.75 and a quick ratio of 0.63.

Insider Buying and Selling

In other news, CFO Ryan Ellson purchased 12,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $6.29 per share, with a total value of $75,480.00. Following the completion of the purchase, the chief financial officer now owns 94,666 shares of the company’s stock, valued at $595,449.14. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Gran Tierra Energy news, CFO Ryan Ellson purchased 12,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $6.29 per share, with a total value of $75,480.00. Following the completion of the purchase, the chief financial officer now owns 94,666 shares of the company’s stock, valued at approximately $595,449.14. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary Guidry acquired 40,000 shares of Gran Tierra Energy stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $6.11 per share, for a total transaction of $244,400.00. Following the purchase, the chief executive officer now owns 525,672 shares of the company’s stock, valued at $3,211,855.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 67,000 shares of company stock worth $410,330 in the last 90 days. Insiders own 7.06% of the company’s stock.

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors and hedge funds have recently made changes to their positions in GTE. Equinox Partners Investment Management LLC boosted its holdings in Gran Tierra Energy by 159.0% in the third quarter. Equinox Partners Investment Management LLC now owns 2,071,626 shares of the company’s stock valued at $12,989,000 after acquiring an additional 1,271,680 shares during the last quarter. Main Street Financial Solutions LLC boosted its stake in shares of Gran Tierra Energy by 204.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 450,403 shares of the company’s stock valued at $4,355,000 after purchasing an additional 302,583 shares during the last quarter. American Century Companies Inc. increased its position in shares of Gran Tierra Energy by 46.8% during the second quarter. American Century Companies Inc. now owns 726,226 shares of the company’s stock worth $7,023,000 after buying an additional 231,595 shares during the period. Intact Investment Management Inc. bought a new position in Gran Tierra Energy during the second quarter worth $696,000. Finally, Empowered Funds LLC lifted its holdings in Gran Tierra Energy by 39.3% in the third quarter. Empowered Funds LLC now owns 207,067 shares of the company’s stock valued at $1,298,000 after buying an additional 58,438 shares during the period. 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.