Ninepoint Partners LP Takes $5.05 Million Position in Gran Tierra Energy Inc (GTE)

Ninepoint Partners LP bought a new stake in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,223,900 shares of the company’s stock, valued at approximately $5,048,000. Gran Tierra Energy makes up approximately 0.9% of Ninepoint Partners LP’s holdings, making the stock its 22nd largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in Gran Tierra Energy by 15.0% during the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,002,800 shares of the company’s stock valued at $4,569,000 after buying an additional 260,900 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Gran Tierra Energy by 28.9% in the fourth quarter. Bank of Montreal Can now owns 1,304,249 shares of the company’s stock worth $2,829,000 after purchasing an additional 292,333 shares during the period. WINTON GROUP Ltd increased its stake in shares of Gran Tierra Energy by 219.4% in the fourth quarter. WINTON GROUP Ltd now owns 34,246 shares of the company’s stock worth $74,000 after purchasing an additional 23,524 shares during the period. AlphaMark Advisors LLC bought a new position in shares of Gran Tierra Energy in the fourth quarter worth about $360,000. Finally, Vanguard Group Inc increased its stake in shares of Gran Tierra Energy by 3.5% in the third quarter. Vanguard Group Inc now owns 10,699,810 shares of the company’s stock worth $40,873,000 after purchasing an additional 366,568 shares during the period.

GTE traded up $0.03 on Thursday, hitting $2.21. 42,820 shares of the stock traded hands, compared to its average volume of 1,674,971. Gran Tierra Energy Inc has a 52 week low of $2.03 and a 52 week high of $3.96.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $152.57 million during the quarter, compared to analysts’ expectations of $148.50 million. During the same quarter last year, the company earned $0.05 EPS.

A number of research firms have recently commented on GTE. Zacks Investment Research lowered Gran Tierra Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Scotiabank reiterated a “buy” rating and issued a $5.50 price objective on shares of Gran Tierra Energy in a research note on Friday, May 10th. Finally, GMP Securities lowered Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $4.75.

In other news, VP Lawrence West purchased 12,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average cost of $2.31 per share, for a total transaction of $27,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Rodger Derrick Trimble purchased 16,800 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were purchased at an average price of $2.34 per share, for a total transaction of $39,312.00. Following the completion of the purchase, the vice president now directly owns 84,650 shares of the company’s stock, valued at $198,081. The disclosure for this purchase can be found here. Insiders have purchased 10,312,432 shares of company stock worth $24,318,000 over the last 90 days.

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Gran Tierra Energy Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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Institutional Ownership by Quarter for Gran Tierra Energy (NYSEAMERICAN:GTE)

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