Gran Tierra Energy (NYSE:GTE) Trading 12% Higher – What’s Next?

Gran Tierra Energy Inc. (NYSE:GTE) shares were up 12% on Friday . The stock traded as high as $7.51 and last traded at $7.49. 610,218 shares were traded during mid-day trading, an increase of 14% from the average session volume of 535,057 shares. The stock had previously closed at $6.69.

Analyst Ratings Changes

Several analysts have recently issued reports on GTE shares. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. Roth Capital raised shares of Gran Tierra Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Gran Tierra Energy currently has an average rating of “Buy” and an average target price of $9.72.

Gran Tierra Energy Stock Performance

The business has a 50 day moving average of $7.10 and a 200-day moving average of $7.25. The company has a market capitalization of $264.85 million, a P/E ratio of 5.24 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31.

Institutional Investors Weigh In On Gran Tierra Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC boosted 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 acquiring an additional 79,535 shares during the period. Renaissance Technologies LLC grew its stake in Gran Tierra Energy by 2.1% during the first quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock valued at $6,967,000 after acquiring an additional 16,300 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Gran Tierra Energy by 2,226.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after acquiring an additional 578,397 shares during the period. Dimensional Fund Advisors LP increased its holdings in Gran Tierra Energy by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 234,845 shares of the company’s stock worth $2,108,000 after acquiring an additional 17,340 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Gran Tierra Energy in the 1st quarter worth approximately $154,000. 31.70% of the stock is owned by hedge funds and other institutional investors.

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.