Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 506,288 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTE) major shareholder Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $10.60, for a total value of $5,366,652.80. Following the sale, the insider owned 506,655 shares in the company, valued at $5,370,543. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• 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.

Gran Tierra Energy Stock Performance

Gran Tierra Energy stock opened at $8.96 on Friday. Gran Tierra Energy Inc. has a 52 week low of $3.09 and a 52 week high of $11.52. 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 stock has a market cap of $316.83 million, a P/E ratio of 6.27 and a beta of 0.13. The stock has a 50 day moving average of $7.12 and a 200-day moving average of $7.37.

Hedge Funds Weigh In On Gran Tierra Energy

Several large investors have recently added to or reduced their stakes in the company. Equinox Partners Investment Management LLC boosted its holdings in Gran Tierra Energy by 25.2% in the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock worth $27,057,000 after purchasing an additional 1,283,783 shares during the period. LM Asset Management Inc. increased its stake in Gran Tierra Energy by 32.2% during the fourth quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company’s stock valued at $15,652,000 after purchasing an additional 899,620 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Gran Tierra Energy by 2,226.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after purchasing an additional 578,397 shares during the period. Jane Street Group LLC raised its holdings in shares of Gran Tierra Energy by 331.8% during the fourth quarter. Jane Street Group LLC now owns 214,231 shares of the company’s stock worth $908,000 after purchasing an additional 164,622 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Gran Tierra Energy by 148.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,505 shares of the company’s stock worth $922,000 after buying an additional 129,973 shares during the last quarter. 31.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GTE. Canaccord Genuity Group set a $14.00 price objective on shares of Gran Tierra Energy in a research note on Tuesday, April 14th. Roth Capital reissued a “buy” rating on shares of Gran Tierra Energy in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $9.72.

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.