Key Points
- Equinox Partners Investment Management sold 248,510 Gran Tierra Energy shares at an average $9.30, generating $2.31 million and reducing its position by 40.04% to 372,095 shares. The firm also reported several additional sales in early August.
- Gran Tierra Energy shares opened at $9.50, with a 52-week range of $3.09 to $11.52 and a market capitalization of approximately $336 million. The stock has a consensus “Buy” rating and a $9.72 price target.
- Institutional investors own 31.70% of GTE, with Bank of America increasing its stake by 270.3% during the second quarter. Gran Tierra is an independent oil and gas producer focused on onshore assets in Colombia and Ecuador.
Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 165,377 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $9.49, for a total value of $1,569,427.73. Following the sale, the insider owned 357,833 shares of the company's stock, valued at approximately $3,395,835.17. This represents a 31.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Equinox Partners Investment Ma also recently made the following trade(s):
- On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.30, for a total value of $2,311,143.00.
- On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.08, for a total value of $1,032,441.40.
- On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.05, for a total value of $944,349.40.
- 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.
- 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 Price Performance
GTE opened at $9.50 on Friday. The business's 50-day moving average is $7.21 and its two-hundred day moving average is $7.51. Gran Tierra Energy Inc. has a 1 year low of $3.09 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a market capitalization of $336.11 million, a PE ratio of 6.64 and a beta of 0.13.
Analysts Set New Price Targets
Separately, Roth Capital reaffirmed a "buy" rating on shares of Gran Tierra Energy in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $9.72.
Get Our Latest Stock Analysis on Gran Tierra Energy
Institutional Investors Weigh In On Gran Tierra Energy
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake 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 buying an additional 11,651 shares during the last quarter. State of Wyoming purchased a new stake in shares of Gran Tierra Energy during the second quarter worth about $105,000. SG Americas Securities LLC acquired a new position in shares of Gran Tierra Energy during the first quarter valued at about $154,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gran Tierra Energy during the fourth quarter valued at about $81,000. Finally, XTX Topco Ltd purchased a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $92,000. 31.70% of the stock is currently owned by hedge funds and other 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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