Gran Tierra Energy (NYSE:GTE) Shares Down 4.7% – Should You Sell?

Shares of Gran Tierra Energy Inc. (NYSE:GTE) were down 4.7% during mid-day trading on Thursday . The stock traded as low as $6.21 and last traded at $6.28. Approximately 242,053 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 564,186 shares. The stock had previously closed at $6.59.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Raymond James Financial upgraded Gran Tierra Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Canaccord Genuity Group set a $14.00 price target on Gran Tierra Energy in a research note on Tuesday, April 14th. Finally, Roth Capital upgraded Gran Tierra Energy from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.72.

Gran Tierra Energy Trading Down 0.5%

The stock has a market capitalization of $221 million, a PE ratio of 4.37 and a beta of 0.13. The company’s 50 day moving average price is $7.74 and its two-hundred day moving average price is $6.97. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in shares of Gran Tierra Energy by 32.9% in the first 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 in the last quarter. Renaissance Technologies LLC lifted its position in Gran Tierra Energy by 2.1% during the first quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock worth $6,967,000 after buying an additional 16,300 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in 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 buying an additional 578,397 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Gran Tierra Energy by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 234,845 shares of the company’s stock worth $2,108,000 after buying an additional 17,340 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Gran Tierra Energy during the first quarter worth $154,000. 31.70% of the stock is currently owned by institutional investors and hedge funds.

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.