Key Points
- Insider buying: Major shareholder Daniel Lau purchased 360,000 shares at an average price of $3.95 on Dec. 18 for $1.422M, increasing his stake to 3,531,200 shares (an 11.35% ownership increase) as disclosed in an SEC filing.
- Gran Tierra (GTE) opened at $3.85 with a market cap of $135.9M and a low PE of 2.69, trading near its 52-week low of $3.09 and below its 50- and 200-day moving averages ($4.18 and $4.38).
- Analyst view: Roth Capital initiated coverage with a "Buy" and $5.45 target, and the consensus rating is a "Moderate Buy" with a $5.45 average price target.
Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Daniel Lau purchased 360,000 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $3.95 per share, with a total value of $1,422,000.00. Following the completion of the transaction, the insider owned 3,531,200 shares in the company, valued at $13,948,240. This trade represents a 11.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Gran Tierra Energy Price Performance
Shares of GTE opened at $3.85 on Friday. The stock has a market cap of $135.89 million, a PE ratio of 2.69 and a beta of 0.35. 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 Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $8.19. The firm's 50-day simple moving average is $4.18 and its two-hundred day simple moving average is $4.38.
Analyst Upgrades and Downgrades
Separately, Roth Capital initiated coverage on Gran Tierra Energy in a research report on Friday, December 12th. They issued a "buy" rating and a $5.45 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Gran Tierra Energy has an average rating of "Moderate Buy" and a consensus price target of $5.45.
Check Out Our Latest Stock Analysis on Gran Tierra Energy
Hedge Funds Weigh In On Gran Tierra Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in shares of Gran Tierra Energy in the second quarter worth $56,000. Bank of America Corp DE increased its holdings in 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 worth $76,000 after buying an additional 11,651 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Gran Tierra Energy in the 1st quarter worth about $90,000. XTX Topco Ltd bought a new position in Gran Tierra Energy during the 2nd quarter valued at about $92,000. Finally, Marshall Wace LLP purchased a new stake in shares of Gran Tierra Energy during the 2nd quarter valued at about $97,000. 31.70% of the stock is owned by institutional investors.
About Gran Tierra Energy
(
Get Free Report)
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.
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