Gran Tierra Energy Inc. (GTE) Stake Cut by California Public Employees Retirement System
California Public Employees Retirement System decreased its stake in Gran Tierra Energy Inc. (TSE:GTE) (AMEX:GTE) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,266,500 shares of the company’s stock after selling 86,800 shares during the period. California Public Employees Retirement System owned about 0.43% of Gran Tierra Energy worth $3,812,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virginia Retirement Systems ET AL purchased a new position in Gran Tierra Energy during the second quarter valued at approximately $155,000. TD Asset Management Inc. raised its stake in shares of Gran Tierra Energy by 75.2% in the second quarter. TD Asset Management Inc. now owns 2,532,520 shares of the company’s stock worth $8,443,000 after buying an additional 1,087,300 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Gran Tierra Energy during the second quarter worth about $2,321,000. Emerald Acquisition Ltd. bought a new stake in shares of Gran Tierra Energy during the second quarter worth about $1,044,000. Finally, Foundry Partners LLC bought a new stake in shares of Gran Tierra Energy during the second quarter worth about $4,060,000.
Shares of Gran Tierra Energy Inc. (TSE:GTE) traded up 10.03% during midday trading on Wednesday, reaching $3.84. The company had a trading volume of 5,719,682 shares. Gran Tierra Energy Inc. has a 52-week low of $2.56 and a 52-week high of $4.44. The company’s 50 day moving average price is $4.01 and its 200 day moving average price is $3.88. The stock’s market capitalization is $1.37 billion.
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GTE has been the subject of a number of research reports. FirstEnergy Capital reaffirmed an “outperform” rating on shares of Gran Tierra Energy in a research note on Friday, August 12th. TD Securities reaffirmed an “action list buy” rating and issued a C$6.00 price objective on shares of Gran Tierra Energy in a research note on Tuesday, November 8th. Scotiabank reaffirmed an “outperform” rating and issued a C$5.50 price objective on shares of Gran Tierra Energy in a research note on Wednesday. Zacks Investment Research lowered shares of Gran Tierra Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Gran Tierra Energy in a research note on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$6.62.
In other news, VP Lawrence West bought 25,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of C$3.05 per share, for a total transaction of C$76,250.00. Following the acquisition, the vice president now directly owns 228,830 shares of the company’s stock, valued at approximately C$697,931.50. Also, insider Susan Lynn Mawdsley bought 36,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average price of C$2.98 per share, with a total value of C$107,280.00. Following the completion of the acquisition, the insider now directly owns 15,500 shares in the company, valued at C$46,190. The disclosure for this purchase can be found here.
Gran Tierra Energy Company Profile
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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