Gran Tierra Energy (NYSE:GTE) Upgraded 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 Wednesday.

Gran Tierra Energy Stock Up 10.4 %

Shares of NYSE GTE traded up $0.64 during mid-day trading on Wednesday, reaching $6.77. The company had a trading volume of 870,847 shares, compared to its average volume of 336,638. The stock has a fifty day moving average of $6.33 and a two-hundred day moving average of $7.89. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The company has a market capitalization of $207.50 million, a price-to-earnings ratio of 4.73 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.

Insider Transactions at Gran Tierra Energy

In other news, CFO Ryan Ellson acquired 12,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $6.29 per share, for a total transaction of $75,480.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Guidry acquired 40,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average price of $6.11 per share, for a total transaction of $244,400.00. Following the acquisition, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at $3,211,855.92. The trade was a 8.24 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 67,000 shares of company stock valued at $410,330 over the last three months. 7.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gran Tierra Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Gran Tierra Energy by 25.6% in the third 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 last quarter. Y Intercept Hong Kong Ltd acquired a new position in Gran Tierra Energy during the third quarter valued at approximately $200,000. Quarry LP acquired a new position in Gran Tierra Energy during the third quarter valued at approximately $52,000. Centiva Capital LP acquired a new position in Gran Tierra Energy during the third quarter valued at approximately $73,000. Finally, PDT Partners LLC grew its holdings in Gran Tierra Energy by 13.1% during the third 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 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.