Gran Tierra Energy (NYSE:GTE) Upgraded by Raymond James Financial to Moderate Buy Rating

Gran Tierra Energy (NYSE:GTE) was upgraded by investment analysts at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research note issued to investors on Monday,Zacks.com reports.

GTE has been the topic of several other reports. Canaccord Genuity Group lowered shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 27th. Roth Mkm downgraded shares of Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $5.45.

Gran Tierra Energy Price Performance

Shares of NYSE GTE opened at $9.24 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. Gran Tierra Energy has a fifty-two week low of $3.09 and a fifty-two week high of $9.65. The firm has a market capitalization of $326.16 million, a PE ratio of 6.46 and a beta of 0.35. The stock’s 50-day simple moving average is $6.69 and its 200-day simple moving average is $5.11.

Institutional Trading of Gran Tierra Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC increased its position in Gran Tierra Energy by 0.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock valued at $2,372,000 after acquiring an additional 5,098 shares during the period. Goldman Sachs Group Inc. lifted 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 worth $484,000 after acquiring an additional 6,015 shares during the period. Bank of America Corp DE grew its stake in shares of Gran Tierra Energy by 270.3% in the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock valued at $76,000 after purchasing an additional 11,651 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $56,000. Finally, PDT Partners LLC increased its holdings in shares of Gran Tierra Energy by 76.3% in the second quarter. PDT Partners LLC now owns 27,364 shares of the company’s stock valued at $131,000 after purchasing an additional 11,841 shares during the period. 31.70% of the stock is owned by hedge funds and other institutional investors.

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.