Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells 104,348 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 104,348 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $9.05, for a total transaction of $944,349.40. Following the completion of the transaction, the insider directly owned 403,333 shares of the company’s stock, valued at $3,650,163.65. This trade represents a 20.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.08, for a total value of $1,032,441.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.16, for a total value of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Trading Up 6.5%

Shares of Gran Tierra Energy stock traded up $0.58 during trading hours on Tuesday, hitting $9.53. The company’s stock had a trading volume of 1,327,069 shares, compared to its average volume of 702,320. Gran Tierra Energy Inc. has a 12 month low of $3.09 and a 12 month high of $11.52. The stock has a 50 day moving average of $7.13 and a 200 day moving average of $7.42. The company has a market capitalization of $337.17 million, a PE ratio of 6.66 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19.

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors have recently bought and sold shares of GTE. Bank of America Corp DE boosted its position in Gran Tierra Energy by 270.3% during the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock worth $76,000 after acquiring an additional 11,651 shares during the last quarter. State of Wyoming acquired a new stake in shares of Gran Tierra Energy in the second quarter valued at approximately $105,000. SG Americas Securities LLC acquired a new stake in shares of Gran Tierra Energy in the first quarter valued at approximately $154,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gran Tierra Energy in the fourth quarter worth $81,000. Finally, XTX Topco Ltd bought a new stake in shares of Gran Tierra Energy in the second quarter worth $92,000. Institutional investors own 31.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GTE has been the topic of several research analyst reports. Canaccord Genuity Group set a $14.00 target price on shares of Gran Tierra Energy in a report on Tuesday, April 14th. Roth Capital reiterated a “buy” rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.72.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an independent oil and gas exploration and production company focused on on-shore assets in South America. Headquartered in Calgary, Alberta, the company trades on the New York Stock Exchange under the symbol GTE. Since its founding in 2006, Gran Tierra has assembled a diversified portfolio of exploration and development blocks, with principal operations in Colombia’s Llanos and Putumayo basins and in Ecuador’s Oriente Basin.

The company’s core activities encompass the full upstream value chain, from geological and geophysical surveys to drilling, completion and production operations.