Gran Tierra Energy (NYSE:GTE) Major Shareholder Equinox Partners Investment Ma Sells 506,288 Shares

Key Points

• Equinox Partners Investment Management sold 506,288 Gran Tierra Energy shares at an average price of $10.60, reducing its position by nearly 50% and leaving it with 506,655 shares. It also sold an additional 1.09 million shares the following day for approximately $10.0 million.
• Gran Tierra Energy shares fell 5.4% to $8.96 during Friday trading, while the company’s market capitalization stood at about $316.8 million.
• Analysts maintain a generally positive outlook, with the stock holding a consensus “Buy” rating and a $9.72 target price; institutional investors own 31.7% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 506,288 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $10.60, for a total transaction of $5,366,652.80. Following the completion of the transaction, the insider directly owned 506,655 shares in the company, valued at approximately $5,370,543. The trade was a 49.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, August 6th, Equinox Partners Investment Ma sold 1,093,712 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.16, for a total value of $10,018,401.92.

Gran Tierra Energy Stock Down 5.4%

GTE traded down $0.51 during midday trading on Friday, reaching $8.96. 1,075,721 shares of the company were exchanged, compared to its average volume of 690,995. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31. The company's fifty day moving average price is $7.10 and its 200 day moving average price is $7.36. The company has a market cap of $316.83 million, a price-to-earnings ratio of 6.27 and a beta of 0.13. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52.

Institutional Investors Weigh In On Gran Tierra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Gran Tierra Energy by 270.3% during the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company's stock worth $76,000 after buying an additional 11,651 shares in the last quarter. State of Wyoming bought a new position in shares of Gran Tierra Energy in the second quarter valued at approximately $105,000. SG Americas Securities LLC purchased a new stake in shares of Gran Tierra Energy during the first quarter valued at approximately $154,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Gran Tierra Energy during the fourth quarter valued at approximately $81,000. Finally, XTX Topco Ltd bought a new stake in Gran Tierra Energy during the second quarter worth $92,000. Hedge funds and other institutional investors own 31.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GTE shares. Canaccord Genuity Group set a $14.00 price target on Gran Tierra Energy in a report on Tuesday, April 14th. Roth Capital restated a "buy" rating on shares of Gran Tierra Energy in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price 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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