Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 113,705 Shares

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 113,705 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.08, for a total transaction of $1,032,441.40. Following the sale, the insider directly owned 393,527 shares in the company, valued at $3,573,225.16. The trade was a 22.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 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 transaction 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

NYSE GTE opened at $9.53 on Wednesday. The stock has a market capitalization of $337.17 million, a price-to-earnings ratio of 6.66 and a beta of 0.13. The stock has a 50-day moving average of $7.16 and a 200 day moving average of $7.45. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. Gran Tierra Energy Inc. has a twelve month low of $3.09 and a twelve month high of $11.52.

Analysts Set New Price Targets

GTE has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $14.00 target price on Gran Tierra Energy in a research report on Tuesday, April 14th. Roth Capital restated 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’s stock. According to data from MarketBeat.com, Gran Tierra Energy presently has an average rating of “Buy” and a consensus target price of $9.72.

Hedge Funds Weigh In On Gran Tierra Energy

A number of hedge funds have recently made changes to their positions in GTE. LM Asset Management Inc. purchased a new position in shares of Gran Tierra Energy in the second quarter valued at approximately $27,283,875,000. BlackRock Inc. purchased a new stake in shares of Gran Tierra Energy during the second quarter worth approximately $577,000. State of Wyoming acquired a new position in Gran Tierra Energy in the 2nd quarter valued at $105,000. Empowered Funds LLC raised its stake in Gran Tierra Energy by 32.9% in the 1st quarter. Empowered Funds LLC now owns 321,592 shares of the company’s stock valued at $2,885,000 after purchasing an additional 79,535 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Gran Tierra Energy by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock valued at $6,967,000 after purchasing an additional 16,300 shares in the last quarter. Institutional investors and hedge funds own 31.70% of the company’s stock.

About Gran Tierra Energy

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.