Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Gran Tierra Energy Inc. $GTE

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Gran Tierra Energy Inc. (NYSE:GTE) by 897.5%, owning approximately $1.69 million worth of shares after buying an additional 311,761 shares in the first quarter.
• Other institutional investors, including Bank of America and Renaissance Technologies, also significantly boosted their holdings in Gran Tierra Energy, with institutional ownership now accounting for 31.70% of the stock.
• Gran Tierra Energy's stock performance shows a P/E ratio of 2.69 and a current share price of $3.85, with recent earnings surpassing analysts' estimates, reporting a quarter EPS of ($0.36).

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Gran Tierra Energy Inc. (NYSE:GTE - Free Report) by 897.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,499 shares of the company's stock after purchasing an additional 311,761 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.98% of Gran Tierra Energy worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTE. Invesco Ltd. increased its position in Gran Tierra Energy by 1.0% during the 4th quarter. Invesco Ltd. now owns 286,960 shares of the company's stock worth $2,075,000 after purchasing an additional 2,846 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Gran Tierra Energy by 22.7% during the 4th quarter. Renaissance Technologies LLC now owns 865,280 shares of the company's stock valued at $6,256,000 after acquiring an additional 159,900 shares during the last quarter. Barclays PLC increased its stake in shares of Gran Tierra Energy by 75.5% during the 4th quarter. Barclays PLC now owns 59,248 shares of the company's stock valued at $429,000 after acquiring an additional 25,493 shares during the last quarter. Jump Financial LLC increased its stake in shares of Gran Tierra Energy by 33.8% during the 4th quarter. Jump Financial LLC now owns 58,876 shares of the company's stock valued at $426,000 after acquiring an additional 14,869 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Gran Tierra Energy by 17.3% during the 4th quarter. Marshall Wace LLP now owns 218,787 shares of the company's stock valued at $1,582,000 after acquiring an additional 32,209 shares during the last quarter. Hedge funds and other institutional investors own 31.70% of the company's stock.

Analyst Ratings Changes

GTE has been the subject of a number of research analyst reports. Raymond James Financial initiated coverage on shares of Gran Tierra Energy in a research note on Friday, June 20th. They set a "market perform" rating for the company. Stifel Nicolaus initiated coverage on shares of Gran Tierra Energy in a research note on Tuesday, May 13th. They set a "buy" rating for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Insider Buying and Selling at Gran Tierra Energy

In other Gran Tierra Energy news, major shareholder Equinox Partners Investment Ma purchased 30,000 shares of Gran Tierra Energy stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $4.81 per share, with a total value of $144,300.00. Following the completion of the acquisition, the insider owned 2,009,486 shares of the company's stock, valued at approximately $9,665,627.66. This trade represents a 1.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.45% of the company's stock.

Gran Tierra Energy Stock Up 1.4%

Shares of GTE stock traded up $0.0530 during trading hours on Wednesday, reaching $3.8730. The company had a trading volume of 209,771 shares, compared to its average volume of 293,505. The company has a market capitalization of $136.68 million, a P/E ratio of 2.71 and a beta of 0.84. The stock's fifty day simple moving average is $4.68 and its 200 day simple moving average is $4.76. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. Gran Tierra Energy Inc. has a twelve month low of $3.34 and a twelve month high of $8.19.

Gran Tierra Energy (NYSE:GTE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07. Gran Tierra Energy had a net margin of 7.17% and a return on equity of 11.36%. During the same period in the prior year, the firm earned $1.16 earnings per share.

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.