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

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

Gran Tierra Energy Trading Down 3.3 %

Gran Tierra Energy stock traded down $0.21 during midday trading on Friday, reaching $6.09. 256,412 shares of the stock traded hands, compared to its average volume of 335,573. The stock has a fifty day moving average price of $6.31. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. The firm has a market cap of $186.51 million, a price-to-earnings ratio of 4.26 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.

Insider Activity

In other news, CFO Ryan Ellson acquired 12,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost 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 in the company, valued at approximately $595,449.14. The trade was a 14.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary Guidry acquired 15,000 shares of Gran Tierra Energy stock in a transaction that occurred on Tuesday, September 17th. The shares were purchased at an average cost of $6.03 per share, with a total value of $90,450.00. Following the transaction, the chief executive officer now owns 440,672 shares of the company’s stock, valued at approximately $2,657,252.16. The trade was a 3.52 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 67,000 shares of company stock valued at $410,330 over the last three months. Insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Gran Tierra Energy

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