LM Asset Management Inc. Invests $27.28 Billion in Gran Tierra Energy Inc. $GTE

Key Points

• LM Asset Management acquired 4.37 million Gran Tierra Energy shares valued at approximately $27.28 billion, making GTE its third-largest portfolio holding and representing about 12.34% of the company.
• Institutional ownership stands at 31.70%, with several funds increasing their stakes; however, Equinox Partners sold 1.09 million shares, and insiders have sold about $27.5 million of stock over the past three months.
• Analysts maintain a positive outlook, with an average rating of “Buy” and a $9.72 price target. GTE opened at $9.76, compared with a 52-week range of $3.09 to $11.52.

LM Asset Management Inc. acquired a new position in shares of Gran Tierra Energy Inc. (NYSE:GTE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,365,420 shares of the company's stock, valued at approximately $27,283,875,000. Gran Tierra Energy accounts for approximately 16.9% of LM Asset Management Inc.'s investment portfolio, making the stock its 3rd largest position. LM Asset Management Inc. owned approximately 12.34% of Gran Tierra Energy at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Equinox Partners Investment Management LLC raised its position in Gran Tierra Energy by 25.2% in the fourth 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 during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Gran Tierra Energy by 2,226.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company's stock worth $5,421,000 after buying an additional 578,397 shares during the period. Jane Street Group LLC grew its stake in shares of Gran Tierra Energy by 331.8% in the fourth quarter. Jane Street Group LLC now owns 214,231 shares of the company's stock valued at $908,000 after buying an additional 164,622 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Gran Tierra Energy by 148.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,505 shares of the company's stock valued at $922,000 after buying an additional 129,973 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Gran Tierra Energy by 202.1% in the 4th quarter. Millennium Management LLC now owns 171,702 shares of the company's stock valued at $728,000 after buying an additional 114,859 shares during the period. Institutional investors and hedge funds own 31.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Roth Capital reissued a "buy" rating on shares of Gran Tierra Energy in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $9.72.

Insider Buying and Selling

In other Gran Tierra Energy news, major shareholder Equinox Partners Investment Ma sold 1,093,712 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 2,906,889 shares of company stock valued at $27,500,035. Company insiders own 5.75% of the company's stock.

Gran Tierra Energy Trading Down 0.5%

NYSE GTE opened at $9.76 on Friday. The firm has a 50 day simple moving average of $7.39 and a 200-day simple moving average of $7.64. 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 one year low of $3.09 and a one year high of $11.52. The firm has a market cap of $345.31 million, a price-to-earnings ratio of 6.83 and a beta of 0.13.

Gran Tierra Energy Company 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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