Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells 104,348 Shares of Stock

Key Points

• Equinox Partners Investment Management sold 104,348 Gran Tierra Energy shares at an average price of $9.05, generating $944,349.40 and reducing its direct ownership by 20.55% to 403,333 shares. The firm also sold more than 1.7 million additional shares in transactions from August 5–10.
• Gran Tierra Energy shares rose 6.5% to $9.53, with trading volume nearly twice its average. The stock has a $337.2 million market capitalization, a price-to-earnings ratio of 6.66, and has traded between $3.09 and $11.52 over the past year.
• Analysts maintain a favorable outlook, with a consensus “Buy” rating and a $9.72 price target; institutional investors own 31.7% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 104,348 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $9.05, for a total transaction of $944,349.40. Following the sale, the insider directly owned 403,333 shares in the company, valued at $3,650,163.65. This trade represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 Monday, August 10th, Equinox Partners Investment Ma sold 113,705 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.08, for a total transaction of $1,032,441.40.
• 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 value of $10,018,401.92.
• On Wednesday, August 5th, Equinox Partners Investment Ma sold 506,288 shares of Gran Tierra Energy stock. The shares were sold at an average price of $10.60, for a total value of $5,366,652.80.

Gran Tierra Energy Trading Up 6.5%

Shares of GTE stock traded up $0.58 on Tuesday, reaching $9.53. 1,327,069 shares of the stock were exchanged, compared to its average volume of 702,320. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. Gran Tierra Energy Inc. has a one year low of $3.09 and a one year high of $11.52. The stock has a market cap of $337.17 million, a PE ratio of 6.66 and a beta of 0.13. The stock has a 50 day moving average price of $7.13 and a 200 day moving average price of $7.42.

Analyst Ratings Changes

Several equities research analysts have recently commented on GTE shares. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. Roth Capital reaffirmed a "buy" rating on shares of Gran Tierra Energy in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, Gran Tierra Energy currently has a consensus rating of "Buy" and a consensus price target of $9.72.

Hedge Funds Weigh In On Gran Tierra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its stake in shares of Gran Tierra Energy by 2,226.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company's stock valued at $5,421,000 after acquiring an additional 578,397 shares during the last quarter. Equinox Partners Investment Management LLC raised its position in shares of Gran Tierra Energy by 25.2% in the 4th quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company's stock valued at $27,057,000 after acquiring an additional 1,283,783 shares during the period. Empowered Funds LLC boosted its stake in Gran Tierra Energy by 32.9% during the 1st quarter. Empowered Funds LLC now owns 321,592 shares of the company's stock worth $2,885,000 after acquiring an additional 79,535 shares during the last quarter. SG Americas Securities LLC bought a new position in Gran Tierra Energy during the 1st quarter worth approximately $154,000. Finally, Marshall Wace LLP acquired a new position in Gran Tierra Energy during the second quarter valued at approximately $97,000. Institutional investors own 31.70% of the company's stock.

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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