Arrowstreet Capital Limited Partnership Buys 578,397 Shares of Gran Tierra Energy Inc. $GTE

Key Points

• Arrowstreet Capital dramatically increased its Gran Tierra Energy stake by purchasing 578,397 shares in the first quarter, bringing its holdings to 604,377 shares valued at approximately $5.4 million, or 1.71% of the company.
• Several other institutional investors also raised their positions, and institutional ownership now represents 31.7% of Gran Tierra Energy’s outstanding stock.
• Analyst sentiment is positive: the stock carries an average “Buy” rating with a $9.72 average price target, compared with its recent price of $7.49.

Arrowstreet Capital Limited Partnership lifted its stake in shares of Gran Tierra Energy Inc. (NYSE:GTE - Free Report) by 2,226.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 604,377 shares of the company's stock after acquiring an additional 578,397 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.71% of Gran Tierra Energy worth $5,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Equinox Partners Investment Management LLC raised its position in Gran Tierra Energy by 25.2% during the 4th quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company's stock valued at $27,057,000 after purchasing an additional 1,283,783 shares in the last quarter. LM Asset Management Inc. grew its position in shares of Gran Tierra Energy by 32.2% during the 4th quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company's stock worth $15,652,000 after buying an additional 899,620 shares in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Gran Tierra Energy by 0.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company's stock worth $2,372,000 after buying an additional 5,098 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Gran Tierra Energy by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 234,845 shares of the company's stock valued at $2,108,000 after buying an additional 17,340 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Gran Tierra Energy by 7.2% during the first quarter. Empowered Funds LLC now owns 233,271 shares of the company's stock valued at $1,150,000 after buying an additional 15,719 shares during the period. Institutional investors own 31.70% of the company's stock.

Gran Tierra Energy Stock Performance

Shares of NYSE GTE opened at $7.49 on Monday. Gran Tierra Energy Inc. has a 1-year low of $3.09 and a 1-year high of $9.74. The business has a fifty day moving average price of $7.10 and a 200 day moving average price of $7.27. The stock 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 current ratio of 1.31 and a quick ratio of 1.19.

Analyst Ratings Changes

GTE has been the subject of a number of research reports. 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 raised shares of Gran Tierra Energy from a "neutral" rating to a "buy" rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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.

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