Key Points
- Equinox Partners Investment Management sold 506,288 Gran Tierra Energy shares at an average price of $10.60, generating $5.37 million and reducing its position by 49.98%. The shareholder also sold an additional 1.09 million shares the following day for approximately $10.02 million.
- Gran Tierra Energy shares opened at $8.96, with a market capitalization of approximately $316.8 million and a 52-week range of $3.09 to $11.52.
- Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $9.72; institutional investors own 31.7% of the company.
Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 506,288 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80. Following the transaction, the insider owned 506,655 shares of the company's stock, valued at $5,370,543. This represents a 49.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 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 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 value of $10,018,401.92.
Gran Tierra Energy Stock Performance
GTE stock opened at $8.96 on Friday. Gran Tierra Energy Inc. has a 1 year low of $3.09 and a 1 year high of $11.52. The stock has a market capitalization of $316.83 million, a price-to-earnings ratio of 6.27 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The stock's fifty day moving average is $7.12 and its two-hundred day moving average is $7.37.
Analyst Ratings Changes
Several analysts recently commented on GTE shares. Roth Capital restated a "buy" rating on shares of Gran Tierra Energy in a research report on Thursday. Canaccord Genuity Group set a $14.00 price target on Gran Tierra Energy in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $9.72.
Check Out Our Latest Stock Analysis on GTE
Institutional Trading of Gran Tierra Energy
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Gran Tierra Energy by 270.3% during the second 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. Dynamic Technology Lab Private Ltd acquired a new position in Gran Tierra Energy in the fourth quarter worth approximately $81,000. nVerses Capital LLC bought a new position in shares of Gran Tierra Energy in the fourth quarter valued at $84,000. XTX Topco Ltd acquired a new stake in shares of Gran Tierra Energy during the 2nd quarter valued at $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy during the 2nd quarter valued at $97,000. 31.70% of the stock is currently owned by institutional investors.
Gran Tierra Energy Company Profile
(
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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