Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 113,705 Shares

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.08, for a total value of $1,032,441.40. Following the completion of the sale, the insider owned 393,527 shares of the company’s stock, valued at approximately $3,573,225.16. The trade was a 22.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.05, for a total value of $944,349.40.
• 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 transaction of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total transaction of $5,366,652.80.

Gran Tierra Energy Trading Up 6.5%

Shares of NYSE:GTE traded up $0.58 during mid-day trading on Tuesday, hitting $9.53. The company had a trading volume of 1,327,069 shares, compared to its average volume of 702,320. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52. The firm has a fifty day moving average price of $7.13 and a 200 day moving average price 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.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GTE shares. Canaccord Genuity Group set a $14.00 price objective on shares of Gran Tierra Energy in a research 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 equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $9.72.

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in GTE. Goldman Sachs Group Inc. boosted its position in Gran Tierra Energy by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock worth $484,000 after purchasing an additional 6,015 shares during the last quarter. Empowered Funds LLC increased its position in shares of Gran Tierra Energy by 7.2% during the 1st quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock valued at $1,150,000 after purchasing an additional 15,719 shares during the last quarter. Creative Planning bought a new stake in shares of Gran Tierra Energy during the 2nd quarter worth $117,000. XTX Topco Ltd bought a new stake in shares of Gran Tierra Energy during the 2nd quarter worth $92,000. Finally, Marshall Wace LLP purchased a new position in shares of Gran Tierra Energy in the 2nd quarter worth about $97,000. Hedge funds and other institutional investors own 31.70% of the company’s stock.

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.