Wealthedge Investment Advisors LLC Makes New $491,000 Investment in Gran Tierra Energy Inc. (NYSE:GTE)

Wealthedge Investment Advisors LLC purchased a new position in Gran Tierra Energy Inc. (NYSE:GTE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 67,958 shares of the company's stock, valued at approximately $491,000. Wealthedge Investment Advisors LLC owned about 0.19% of Gran Tierra Energy at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GTE. Encompass Capital Advisors LLC acquired a new stake in Gran Tierra Energy in the 4th quarter valued at approximately $13,557,000. Equinox Partners Investment Management LLC raised its stake in shares of Gran Tierra Energy by 63.6% during the fourth quarter. Equinox Partners Investment Management LLC now owns 3,390,114 shares of the company's stock valued at $24,511,000 after purchasing an additional 1,318,488 shares in the last quarter. LM Asset IM Inc. bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at about $7,928,000. Bank of America Corp DE raised its stake in shares of Gran Tierra Energy by 959.2% during the fourth quarter. Bank of America Corp DE now owns 277,168 shares of the company's stock valued at $2,004,000 after purchasing an additional 251,001 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Gran Tierra Energy during the fourth quarter valued at about $1,221,000. Institutional investors own 31.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GTE. Stifel Nicolaus began coverage on shares of Gran Tierra Energy in a research note on Tuesday, May 13th. They set a "buy" rating on the stock. Wall Street Zen cut shares of Gran Tierra Energy from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Insider Buying and Selling

In related news, major shareholder Equinox Partners Investment Ma purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were purchased at an average price of $5.16 per share, with a total value of $25,800.00. Following the purchase, the insider now owns 1,737,936 shares of the company's stock, valued at $8,967,749.76. This trade represents a 0.29% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought a total of 476,527 shares of company stock valued at $2,003,350 over the last three months. Company insiders own 6.45% of the company's stock.

Gran Tierra Energy Price Performance

Shares of NYSE GTE remained flat at $4.77 during midday trading on Friday. 105,108 shares of the company were exchanged, compared to its average volume of 287,366. The stock's 50 day moving average is $4.54 and its 200-day moving average is $5.58. The firm has a market capitalization of $168.52 million, a P/E ratio of 3.34 and a beta of 0.71. Gran Tierra Energy Inc. has a fifty-two week low of $3.34 and a fifty-two week high of $10.40. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71.

Gran Tierra Energy Company Profile

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. The company was founded in 2003 and is headquartered in Calgary, Canada.