Gran Tierra Energy (GTE) Lifted to C- at TheStreet

Gran Tierra Energy (NYSEAMERICAN:GTE) was upgraded by equities research analysts at TheStreet from a “d+” rating to a “c-” rating in a note issued to investors on Wednesday.

Separately, Zacks Investment Research upgraded Gran Tierra Energy from a “hold” rating to a “strong-buy” rating and set a $3.00 price objective for the company in a report on Thursday, March 1st.

Shares of NYSEAMERICAN:GTE traded down $0.04 during trading on Wednesday, reaching $2.71. 892,260 shares of the stock were exchanged, compared to its average volume of 1,546,219. Gran Tierra Energy has a 12 month low of $1.93 and a 12 month high of $3.00.

Gran Tierra Energy announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 7th that permits the company to buyback 500% of shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other Gran Tierra Energy news, Director Brooke N. Wade purchased 150,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was bought at an average cost of $2.56 per share, for a total transaction of $384,000.00. Following the completion of the transaction, the director now owns 242,600 shares in the company, valued at $621,056. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rodger Derrick Trimble purchased 15,200 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was acquired at an average price of $2.54 per share, with a total value of $38,608.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 173,080 shares of company stock valued at $442,544.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Gran Tierra Energy in the fourth quarter valued at approximately $234,000. Millennium Management LLC acquired a new position in Gran Tierra Energy during the fourth quarter valued at approximately $330,000. Luminus Management LLC raised its position in Gran Tierra Energy by 16.2% during the fourth quarter. Luminus Management LLC now owns 24,248,157 shares of the company’s stock valued at $65,471,000 after purchasing an additional 3,373,262 shares in the last quarter. Two Sigma Investments LP acquired a new position in Gran Tierra Energy during the fourth quarter valued at approximately $977,000. Finally, Prince Street Capital Management LLC raised its position in Gran Tierra Energy by 13.1% during the fourth quarter. Prince Street Capital Management LLC now owns 1,882,000 shares of the company’s stock valued at $5,105,000 after purchasing an additional 218,000 shares in the last quarter.

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Gran Tierra Energy Company Profile

Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.

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