Gran Tierra Energy (NYSE:GTE) Major Shareholder Daniel Lau Acquires 360,000 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Daniel Lau bought 360,000 shares of Gran Tierra Energy stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $3.95 per share, for a total transaction of $1,422,000.00. Following the acquisition, the insider owned 3,531,200 shares in the company, valued at $13,948,240. The trade was a 11.35% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gran Tierra Energy Stock Down 2.0%

GTE opened at $3.85 on Friday. Gran Tierra Energy Inc. has a 12 month low of $3.09 and a 12 month high of $8.19. 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 business’s 50-day moving average price is $4.18 and its 200-day moving average price is $4.38. The company has a market cap of $135.89 million, a P/E ratio of 2.69 and a beta of 0.35.

Analysts Set New Price Targets

Separately, Roth Capital assumed coverage on shares of Gran Tierra Energy in a report on Friday, December 12th. They set a “buy” rating and a $5.45 price target for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gran Tierra Energy has an average rating of “Moderate Buy” and an average target price of $5.45.

Institutional Investors Weigh In On Gran Tierra Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its stake in shares of Gran Tierra Energy by 4.6% during the 1st quarter. Cetera Investment Advisers now owns 58,450 shares of the company’s stock valued at $288,000 after purchasing an additional 2,551 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Gran Tierra Energy by 6.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock valued at $484,000 after acquiring an additional 6,015 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Gran Tierra Energy by 1.1% during the 1st quarter. Bridgeway Capital Management LLC now owns 558,374 shares of the company’s stock worth $2,753,000 after acquiring an additional 6,219 shares during the period. Bank of America Corp DE grew its holdings in shares of 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 period. Finally, Quadrature Capital Ltd bought a new position in shares of Gran Tierra Energy in the 2nd quarter worth approximately $56,000. 31.70% of the stock is owned by hedge funds and other institutional investors.

About Gran Tierra Energy

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.