Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells $3,017,831.57 in Stock

Key Points

• Equinox Partners Investment Management sold 326,959 Gran Tierra Energy shares at an average price of $9.23, generating approximately $3.02 million and reducing its position by 49.8% to 329,636 shares.
• The shareholder has conducted a series of recent sales, including more than 1.09 million shares on August 6, bringing the disclosed sales total across the listed transactions to roughly $27.5 million.
• GTE traded at $9.38, near analysts’ average price target of $9.72. Analysts maintain a favorable outlook, with one Strong Buy and two Buy ratings, while institutional investors own 31.7% of the company.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) major shareholder Equinox Partners Investment Ma sold 326,959 shares of Gran Tierra Energy stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $9.23, for a total transaction of $3,017,831.57. Following the completion of the transaction, the insider directly owned 329,636 shares in the company, valued at approximately $3,042,540.28. This represents a 49.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Friday, August 14th, Equinox Partners Investment Ma sold 347,990 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.31, for a total transaction of $3,239,786.90.
• 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 transaction of $1,569,427.73.
• On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The shares were sold at an average price of $9.30, for a total transaction of $2,311,143.00.
• 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 transaction of $1,032,441.40.
• On Friday, August 7th, Equinox Partners Investment Ma sold 104,348 shares of Gran Tierra Energy stock. The stock was sold at an average price of $9.05, for a total transaction 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 shares were sold at an average price of $10.60, for a total transaction of $5,366,652.80.

Gran Tierra Energy Stock Performance

GTE stock traded up $0.19 during mid-day trading on Monday, reaching $9.38. 479,275 shares of the stock traded hands, compared to its average volume of 703,735. The firm has a market capitalization of $331.86 million, a PE ratio of 6.56 and a beta of 0.13. The business has a 50-day moving average of $7.24 and a two-hundred day moving average of $7.53. Gran Tierra Energy Inc. has a 52 week low of $3.09 and a 52 week high of $11.52. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in shares of Gran Tierra Energy by 270.3% in the second quarter. Bank of America Corp DE now owns 15,962 shares of the company's stock valued at $76,000 after buying an additional 11,651 shares during the period. State of Wyoming acquired a new position in Gran Tierra Energy in the 2nd quarter valued at approximately $105,000. SG Americas Securities LLC acquired a new position in Gran Tierra Energy in the 1st quarter valued at approximately $154,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Gran Tierra Energy in the 4th quarter worth approximately $81,000. Finally, XTX Topco Ltd bought a new stake in shares of Gran Tierra Energy in the 2nd quarter worth approximately $92,000. Institutional investors and hedge funds own 31.70% of the company's stock.

Analysts Set New Price Targets

Separately, Roth Capital reaffirmed a "buy" rating on shares of Gran Tierra Energy in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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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