Gran Tierra Energy (NYSE:GTE) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a buy rating in a research report released on Wednesday.

Gran Tierra Energy Trading Up 1.6 %

Shares of NYSE:GTE opened at $6.88 on Wednesday. The company has a market capitalization of $210.87 million, a PE ratio of 4.81 and a beta of 1.56. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. Gran Tierra Energy has a 12-month low of $4.72 and a 12-month high of $10.40. The business’s fifty day simple moving average is $6.37 and its 200-day simple moving average is $7.85.

Insider Activity

In other Gran Tierra Energy news, CEO Gary Guidry bought 40,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $6.11 per share, for a total transaction of $244,400.00. Following the transaction, the chief executive officer now directly owns 525,672 shares of the company’s stock, valued at approximately $3,211,855.92. This represents a 8.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ryan Ellson bought 12,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $6.29 per share, for a total transaction of $75,480.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 67,000 shares of company stock worth $410,330. Corporate insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Gran Tierra Energy

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

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.