PCJ Investment Counsel Ltd. Increases Holdings in Gran Tierra Energy Inc (GTE)

PCJ Investment Counsel Ltd. raised its position in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) by 133.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,000 shares of the company’s stock after purchasing an additional 302,800 shares during the period. PCJ Investment Counsel Ltd. owned 0.14% of Gran Tierra Energy worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Gran Tierra Energy by 319.4% in the third quarter. Tower Research Capital LLC TRC now owns 35,929 shares of the company’s stock worth $138,000 after acquiring an additional 27,362 shares during the period. United Services Automobile Association boosted its holdings in shares of Gran Tierra Energy by 184.2% in the third quarter. United Services Automobile Association now owns 40,009 shares of the company’s stock worth $153,000 after acquiring an additional 25,932 shares during the period. UBS Group AG boosted its holdings in shares of Gran Tierra Energy by 383.3% in the first quarter. UBS Group AG now owns 61,479 shares of the company’s stock worth $172,000 after acquiring an additional 48,759 shares during the period. Rational Advisors LLC bought a new position in shares of Gran Tierra Energy in the second quarter worth $193,000. Finally, AMP Capital Investors Ltd bought a new position in shares of Gran Tierra Energy in the second quarter worth $234,000.

Separately, Zacks Investment Research raised Gran Tierra Energy from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Tuesday, November 6th.

NYSEAMERICAN GTE traded down $0.08 during trading hours on Thursday, reaching $2.51. 42,406 shares of the stock traded hands, compared to its average volume of 1,543,932. Gran Tierra Energy Inc has a 1 year low of $2.11 and a 1 year high of $3.96.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.12. The firm had revenue of $175.10 million for the quarter, compared to analysts’ expectations of $177.00 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company’s revenue for the quarter was up 68.7% on a year-over-year basis.

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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. As of December 31, 2017, the company had total proved undeveloped reserves of 19.6 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

Further Reading: What is a closed-end mutual fund (CEF)?

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Institutional Ownership by Quarter for Gran Tierra Energy (NYSEAMERICAN:GTE)

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