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 report sent to investors on Wednesday.

Gran Tierra Energy Stock Up 10.4 %

Shares of GTE opened at $6.77 on Wednesday. The stock has a market cap of $207.50 million, a price-to-earnings ratio of 4.73 and a beta of 1.56. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. Gran Tierra Energy has a 12 month low of $4.72 and a 12 month high of $10.40. The company has a 50-day moving average price of $6.33 and a two-hundred day moving average price of $7.89.

Insider Buying and Selling

In related news, CFO Ryan Ellson bought 12,000 shares of Gran Tierra Energy stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $6.29 per share, with a total value of $75,480.00. Following the purchase, the chief financial officer now owns 94,666 shares in the company, valued at approximately $595,449.14. This trade represents a 14.52 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Guidry acquired 40,000 shares of Gran Tierra Energy stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $6.11 per share, with a total value of $244,400.00. Following the completion of the purchase, the chief executive officer now owns 525,672 shares in the company, valued at approximately $3,211,855.92. The trade was a 8.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 67,000 shares of company stock worth $410,330 in the last quarter. Insiders own 7.06% of the company’s stock.

Institutional Trading of Gran Tierra Energy

A number of hedge funds have recently added to or reduced their stakes in GTE. Quarry LP bought a new position in Gran Tierra Energy during the third quarter worth $52,000. Centiva Capital LP acquired a new position in shares of Gran Tierra Energy during the third quarter valued at about $73,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gran Tierra Energy during the third quarter valued at about $89,000. Victory Capital Management Inc. purchased a new position in Gran Tierra Energy during the third quarter worth about $121,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Gran Tierra Energy in the third quarter worth about $200,000. Institutional investors and hedge funds own 31.70% of the company’s stock.

Gran Tierra Energy Company Profile

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.