Encompass Capital Advisors LLC Buys 625,562 Shares of Gran Tierra Energy Inc. $GTE

Key Points

• Encompass Capital Advisors LLC increased its stake in Gran Tierra Energy by 33.4%, now owning approximately 7.08% of the company's shares, valued at $12.3 million.
• Gran Tierra Energy reported a loss of ($0.36) earnings per share for the most recent quarter, which surpassed analysts' expectations of ($0.43) by $0.07.
• According to analysts, Gran Tierra Energy holds an average rating of "Moderate Buy," with coverage recently initiated by firms like Stifel Nicolaus and Raymond James Financial.

Encompass Capital Advisors LLC raised its stake in Gran Tierra Energy Inc. (NYSE:GTE - Free Report) by 33.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,500,589 shares of the company's stock after buying an additional 625,562 shares during the quarter. Encompass Capital Advisors LLC owned approximately 7.08% of Gran Tierra Energy worth $12,328,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Gran Tierra Energy by 959.2% in the fourth quarter. Bank of America Corp DE now owns 277,168 shares of the company's stock valued at $2,004,000 after buying an additional 251,001 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gran Tierra Energy by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 271,690 shares of the company's stock valued at $1,964,000 after purchasing an additional 61,121 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Gran Tierra Energy during the fourth quarter worth about $829,000. American Century Companies Inc. grew its holdings in Gran Tierra Energy by 11.3% during the first quarter. American Century Companies Inc. now owns 1,303,105 shares of the company's stock worth $6,424,000 after acquiring an additional 131,818 shares during the period. Finally, LM Asset IM Inc. acquired a new position in Gran Tierra Energy during the fourth quarter worth about $7,928,000. 31.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Stifel Nicolaus assumed coverage on Gran Tierra Energy in a research note on Tuesday, May 13th. They issued a "buy" rating on the stock. Raymond James Financial assumed coverage on Gran Tierra Energy in a report on Friday, June 20th. They set a "market perform" rating for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Gran Tierra Energy Stock Down 3.0%

Shares of NYSE GTE traded down $0.12 during mid-day trading on Monday, reaching $3.82. 345,918 shares of the company's stock were exchanged, compared to its average volume of 289,278. The firm has a market capitalization of $134.81 million, a price-to-earnings ratio of 2.67 and a beta of 0.86. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. The business has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $4.60. 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.43) by $0.07. Gran Tierra Energy had a return on equity of 11.36% and a net margin of 7.17%.During the same period last year, the firm posted $1.16 EPS.

About Gran Tierra Energy

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.