Empowered Funds LLC Makes New $2.25 Million Investment in Gran Tierra Energy Inc. $GTE

Key Points

• Empowered Funds LLC initiated a $2.25 million position in Gran Tierra Energy, purchasing 360,592 shares, or about 1.02% of the company. Institutional investors collectively own 31.70% of GTE.
• Insider selling was significant: Equinox Partners Investment Management sold 1.09 million shares worth approximately $10.0 million, while insiders sold about $27.5 million of stock over the past 90 days.
• Gran Tierra shares opened at $10.19, near their 12-month high of $11.52, while analysts maintained a generally positive outlook with an average Buy rating and a $9.72 consensus price target.

Empowered Funds LLC bought a new position in shares of Gran Tierra Energy Inc. (NYSE:GTE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 360,592 shares of the company's stock, valued at approximately $2,254,000. Empowered Funds LLC owned 1.02% of Gran Tierra Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of the company. Bank of America Corp DE purchased a new position in Gran Tierra Energy during the 2nd quarter worth $432,000. Hsbc Holdings PLC purchased a new stake in shares of Gran Tierra Energy in the 2nd quarter worth $154,000. PDT Partners LLC bought a new position in shares of Gran Tierra Energy during the 2nd quarter worth $171,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Gran Tierra Energy during the second quarter valued at $3,294,000. Finally, LM Asset Management Inc. bought a new stake in shares of Gran Tierra Energy in the second quarter valued at about $27,283,875. Hedge funds and other institutional investors own 31.70% of the company's stock.

Insider Transactions at Gran Tierra Energy

In other Gran Tierra Energy news, major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $9.16, for a total value of $10,018,401.92. Following the transaction, the insider owned 412,332 shares in the company, valued at $3,776,961.12. The trade was a 72.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 2,906,889 shares of company stock valued at $27,500,035 in the last 90 days. 5.75% of the stock is owned by insiders.

Gran Tierra Energy Stock Down 1.5%

Gran Tierra Energy stock opened at $10.19 on Thursday. The business has a fifty day moving average of $7.87 and a two-hundred day moving average of $7.93. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The firm has a market cap of $360.52 million, a P/E ratio of 7.13 and a beta of 0.19. Gran Tierra Energy Inc. has a twelve month low of $3.09 and a twelve month high of $11.52.

Analyst Upgrades and Downgrades

Separately, Roth Capital reiterated a "buy" rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $9.72.

Gran Tierra Energy Profile

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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