Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells $1,032,441.40 in Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 113,705 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $9.08, for a total value of $1,032,441.40. Following the completion of the transaction, the insider directly owned 393,527 shares of the company’s stock, valued at approximately $3,573,225.16. The trade was a 22.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 12th, Equinox Partners Investment Ma sold 165,377 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.49, for a total transaction of $1,569,427.73.
• On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.30, for a total value of $2,311,143.00.
• 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 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 Stock Performance

Shares of Gran Tierra Energy stock opened at $9.50 on Friday. 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 cap of $336.11 million, a price-to-earnings ratio of 6.64 and a beta of 0.13. The stock’s 50-day moving average is $7.21 and its 200-day moving average is $7.51. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52.

Institutional Trading of Gran Tierra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Gran Tierra Energy by 6.5% during the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock worth $484,000 after acquiring an additional 6,015 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Gran Tierra Energy by 7.2% during the 1st quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock worth $1,150,000 after purchasing an additional 15,719 shares in the last quarter. Creative Planning bought a new stake in shares of Gran Tierra Energy during the 2nd quarter worth approximately $117,000. XTX Topco Ltd acquired a new stake in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $92,000. Finally, Marshall Wace LLP acquired a new stake in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $97,000. Institutional investors and hedge funds own 31.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reaffirmed a “buy” rating on shares of Gran Tierra Energy in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $9.72.

Gran Tierra Energy Company Profile

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.