Gran Tierra Energy (NYSE:GTE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a buy rating in a research note released on Tuesday.

Gran Tierra Energy Stock Performance

Shares of GTE opened at $5.65 on Tuesday. The stock has a 50 day moving average price of $6.71 and a 200 day moving average price of $6.79. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $173.18 million, a price-to-earnings ratio of 3.95 and a beta of 1.49. Gran Tierra Energy has a 52-week low of $5.01 and a 52-week high of $10.40.

Insider Activity

In other news, Director Ronald Royal sold 19,967 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.88, for a total value of $137,372.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.45% of the company’s stock.

Institutional Investors Weigh In On Gran Tierra Energy

Several large investors have recently modified their holdings of the company. Equinox Partners Investment Management LLC boosted its holdings in shares of Gran Tierra Energy by 63.6% in the fourth quarter. Equinox Partners Investment Management LLC now owns 3,390,114 shares of the company’s stock valued at $24,511,000 after acquiring an additional 1,318,488 shares during the period. American Century Companies Inc. raised its stake in shares of Gran Tierra Energy by 11.9% during the fourth quarter. American Century Companies Inc. now owns 1,171,287 shares of the company’s stock worth $8,468,000 after purchasing an additional 124,138 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Gran Tierra Energy by 22.7% during the fourth quarter. Renaissance Technologies LLC now owns 865,280 shares of the company’s stock worth $6,256,000 after purchasing an additional 159,900 shares during the last quarter. Invesco Ltd. raised its stake in shares of Gran Tierra Energy by 1.0% during the fourth quarter. Invesco Ltd. now owns 286,960 shares of the company’s stock worth $2,075,000 after purchasing an additional 2,846 shares during the last quarter. Finally, Perpetual Ltd raised its stake in shares of Gran Tierra Energy by 38.3% during the fourth quarter. Perpetual Ltd now owns 218,788 shares of the company’s stock worth $1,582,000 after purchasing an additional 60,536 shares during the last quarter. 31.70% of the stock is owned by institutional investors and hedge funds.

About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.