Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Gran Tierra Energy Inc. $GTE

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Gran Tierra Energy Inc. (NYSE:GTE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 523,877 shares of the company’s stock, valued at approximately $3,294,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.48% of Gran Tierra Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in shares of Gran Tierra Energy by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock worth $484,000 after purchasing an additional 6,015 shares in the last quarter. Empowered Funds LLC grew its position in Gran Tierra Energy by 7.2% in the first quarter. Empowered Funds LLC now owns 233,271 shares of the company’s stock valued at $1,150,000 after purchasing an additional 15,719 shares in the last quarter. Creative Planning bought a new position in Gran Tierra Energy in the second quarter valued at $117,000. XTX Topco Ltd acquired a new stake in Gran Tierra Energy in the 2nd quarter valued at $92,000. Finally, Marshall Wace LLP acquired a new stake in Gran Tierra Energy in the 2nd quarter valued at $97,000. 31.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gran Tierra Energy

In other news, major shareholder Equinox Partners Investment Ma sold 347,990 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $9.31, for a total value of $3,239,786.90. Following the completion of the sale, the insider directly owned 299,625 shares of the company’s stock, valued at $2,789,508.75. This trade represents a 53.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 2,906,889 shares of company stock valued at $27,500,035 in the last 90 days. 5.75% of the stock is owned by corporate insiders.

Gran Tierra Energy Stock Down 2.4%

Shares of GTE stock opened at $9.87 on Friday. Gran Tierra Energy Inc. has a 52-week low of $3.09 and a 52-week high of $11.52. The stock has a market cap of $349.20 million, a price-to-earnings ratio of 6.90 and a beta of 0.13. The firm’s 50-day moving average is $7.66 and its 200-day moving average is $7.82. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31.

Analyst Upgrades and Downgrades

Separately, Roth Capital reissued 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 given a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus 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.