Gran Tierra Energy (NYSE:GTE) Stock Rating Upgraded by Raymond James Financial

Gran Tierra Energy (NYSE:GTE) was upgraded by equities researchers at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

GTE has been the topic of a number of other research reports. Canaccord Genuity Group lowered Gran Tierra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 27th. Roth Mkm cut Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.45.

Gran Tierra Energy Trading Up 1.9%

Shares of GTE stock opened at $9.24 on Monday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The stock has a market capitalization of $326.16 million, a P/E ratio of 6.46 and a beta of 0.35. The company has a 50 day moving average price of $6.69 and a 200 day moving average price of $5.11. Gran Tierra Energy has a fifty-two week low of $3.09 and a fifty-two week high of $9.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $56,000. Bank of America Corp DE lifted its position in shares of 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 last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gran Tierra Energy during the 4th quarter worth $81,000. XTX Topco Ltd acquired a new position in shares of Gran Tierra Energy during the second quarter worth $92,000. Finally, nVerses Capital LLC purchased a new position in Gran Tierra Energy in the fourth quarter valued at $84,000. Institutional investors and hedge funds own 31.70% of the company’s stock.

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.