Raymond James Financial Initiates Coverage on Gran Tierra Energy (NYSE:GTE)

Stock analysts at Raymond James Financial began coverage on shares of Gran Tierra Energy (NYSE:GTE) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the stock.

A number of other research analysts also recently weighed in on GTE. Wall Street Zen downgraded Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Stifel Nicolaus initiated coverage on shares of Gran Tierra Energy in a research note on Tuesday, May 13th. They issued a “buy” rating for the company.

Gran Tierra Energy Stock Performance

GTE stock opened at $5.98 on Friday. Gran Tierra Energy has a 1-year low of $3.34 and a 1-year high of $10.40. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. The firm has a market cap of $211.27 million, a PE ratio of 4.18 and a beta of 0.81. The business’s 50-day moving average price is $4.78 and its two-hundred day moving average price is $5.49.

Insider Buying and Selling at Gran Tierra Energy

In other news, major shareholder Equinox Partners Investment Ma bought 123,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $4.11 per share, with a total value of $505,530.00. Following the completion of the transaction, the insider now owns 1,855,436 shares of the company’s stock, valued at $7,625,841.96. This trade represents a 7.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired 523,468 shares of company stock valued at $2,228,974 in the last quarter. 6.45% of the stock is currently owned by insiders.

Institutional Trading of Gran Tierra Energy

Several institutional investors have recently added to or reduced their stakes in GTE. Cetera Investment Advisers raised its position in shares of Gran Tierra Energy by 4.7% in the fourth quarter. Cetera Investment Advisers now owns 55,899 shares of the company’s stock valued at $404,000 after buying an additional 2,484 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Gran Tierra Energy by 1.0% during the 4th quarter. Invesco Ltd. now owns 286,960 shares of the company’s stock valued at $2,075,000 after acquiring an additional 2,846 shares in the last quarter. Quantbot Technologies LP bought a new stake in Gran Tierra Energy during the 4th quarter worth $35,000. Exchange Traded Concepts LLC increased its holdings in Gran Tierra Energy by 13.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 49,972 shares of the company’s stock worth $246,000 after purchasing an additional 5,759 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Gran Tierra Energy by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock valued at $484,000 after purchasing an additional 6,015 shares during the last quarter. 31.70% of the stock is currently owned by institutional investors.

About Gran Tierra Energy

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.