Gran Tierra Energy Inc. $GTE Shares Acquired by LM Asset IM Inc.

LM Asset IM Inc. lifted its stake in shares of Gran Tierra Energy Inc. (NYSE:GTE) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,945,800 shares of the company’s stock after acquiring an additional 229,200 shares during the quarter. Gran Tierra Energy accounts for about 8.6% of LM Asset IM Inc.’s portfolio, making the stock its 4th largest position. LM Asset IM Inc. owned 5.51% of Gran Tierra Energy worth $9,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in Gran Tierra Energy by 270.3% during the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock worth $76,000 after purchasing an additional 11,651 shares during the period. PDT Partners LLC increased its stake in shares of Gran Tierra Energy by 76.3% during the second quarter. PDT Partners LLC now owns 27,364 shares of the company’s stock worth $131,000 after buying an additional 11,841 shares during the period. Jane Street Group LLC purchased a new stake in shares of Gran Tierra Energy during the second quarter worth approximately $235,000. Equinox Partners Investment Management LLC raised its holdings in Gran Tierra Energy by 37.2% in the second quarter. Equinox Partners Investment Management LLC now owns 5,097,688 shares of the company’s stock valued at $24,316,000 after acquiring an additional 1,381,574 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Gran Tierra Energy in the second quarter worth approximately $97,000. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

Gran Tierra Energy Stock Performance

Shares of GTE opened at $3.90 on Friday. The company has a market capitalization of $137.65 million, a price-to-earnings ratio of 2.73 and a beta of 0.35. Gran Tierra Energy Inc. has a 52-week low of $3.09 and a 52-week high of $8.19. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The stock has a 50 day moving average price of $4.25 and a 200 day moving average price of $4.41.

Insider Activity at Gran Tierra Energy

In related news, Director Equinox Partners Investment Ma purchased 276,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average cost of $3.79 per share, for a total transaction of $1,046,040.00. Following the purchase, the director directly owned 2,255,590 shares of the company’s stock, valued at $8,548,686.10. The trade was a 13.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 1,283,783 shares of company stock valued at $5,268,541. Company insiders own 6.45% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Capital initiated coverage on shares of Gran Tierra Energy in a research report on Friday. They issued a “buy” rating and a $5.45 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of “Buy” and an average price target of $5.45.

Gran Tierra Energy Profile

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.