Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 248,510 Shares of Stock

Key Points

• Equinox Partners Investment Management sold 248,510 Gran Tierra Energy shares at an average price of $9.30, generating $2.31 million and reducing its position by 40.04% to 372,095 shares.
• The shareholder has made several additional sales since August 5, including a sale of 1.09 million shares for approximately $10.02 million, indicating substantial recent selling activity.
• Gran Tierra shares rose 1.6% to $9.50, while analysts maintained a consensus “Buy” rating with an average price target of $9.72; institutional investors own 31.7% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $9.30, for a total value of $2,311,143.00. Following the transaction, the insider owned 372,095 shares in the company, valued at $3,460,483.50. This represents a 40.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Wednesday, August 12th, Equinox Partners Investment Ma sold 165,377 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.49, for a total value of $1,569,427.73.
• On Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.08, for a total value of $1,032,441.40.
• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.05, for a total value of $944,349.40.
• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.16, for a total transaction of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The stock was sold at an average price of $10.60, for a total transaction of $5,366,652.80.

Gran Tierra Energy Stock Up 1.6%

GTE traded up $0.15 on Thursday, reaching $9.50. 1,016,250 shares of the company traded hands, compared to its average volume of 704,543. The stock's 50 day moving average price is $7.18 and its 200-day moving average price is $7.48. Gran Tierra Energy Inc. has a 52-week low of $3.09 and a 52-week high of $11.52. The company has a market cap of $336.11 million, a price-to-earnings ratio of 6.64 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.

Institutional Investors Weigh In On Gran Tierra Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Gran Tierra Energy during the second quarter valued at about $3,294,000. LM Asset Management Inc. bought a new position in shares of Gran Tierra Energy in the 2nd quarter valued at approximately $27,283,875,000. BlackRock Inc. acquired a new stake in Gran Tierra Energy in the 2nd quarter worth approximately $577,000. State of Wyoming acquired a new stake in Gran Tierra Energy in the 2nd quarter worth approximately $105,000. Finally, Empowered Funds LLC boosted its position in Gran Tierra Energy by 32.9% during the first quarter. Empowered Funds LLC now owns 321,592 shares of the company's stock worth $2,885,000 after purchasing an additional 79,535 shares during the period. Institutional investors and hedge funds own 31.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Roth Capital reissued a "buy" rating on shares of Gran Tierra Energy in a research 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 company. Based on data from MarketBeat, Gran Tierra Energy has a consensus rating of "Buy" and an average price target 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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