Key Points
- Equinox Partners Investment Management sold 113,705 Gran Tierra Energy shares at an average price of $9.08, generating approximately $1.03 million. The sale reduced its ownership by 22.42% to 393,527 shares.
- Equinox has also sold more than 1.7 million additional shares in recent transactions, including 1.09 million shares on August 6, indicating substantial recent selling by the major shareholder.
- Gran Tierra shares opened at $9.53, up 6.5%, while analysts maintained a generally bullish view: the stock carries a consensus “Buy” rating and a $9.72 target price.
Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 104,348 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $9.05, for a total transaction of $944,349.40. Following the completion of the sale, the insider directly owned 403,333 shares of the company's stock, valued at approximately $3,650,163.65. This trade represents a 20.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.08, for a total transaction of $1,032,441.40.
- On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92.
- On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.
Gran Tierra Energy Trading Up 6.5%
Shares of Gran Tierra Energy stock opened at $9.53 on Wednesday. The stock has a 50 day moving average of $7.16 and a 200 day moving average of $7.45. 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 firm has a market capitalization of $337.17 million, a price-to-earnings ratio of 6.66 and a beta of 0.13. Gran Tierra Energy Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $11.52.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on GTE. Roth Capital reiterated a "buy" rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. Canaccord Genuity Group set a $14.00 target price on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus 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
Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Gran Tierra Energy by 270.3% in 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 period. Dynamic Technology Lab Private Ltd acquired a new position in Gran Tierra Energy during the fourth quarter worth $81,000. nVerses Capital LLC purchased a new position in shares of Gran Tierra Energy during the fourth quarter worth $84,000. XTX Topco Ltd acquired a new stake in shares of Gran Tierra Energy in the second quarter valued at $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy in the second quarter valued at $97,000. Institutional investors and hedge funds own 31.70% of the company's stock.
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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