Gran Tierra Energy (NYSE:GTE) Stock Price Down 4.7% - Should You Sell?

Key Points

• Gran Tierra Energy shares fell 4.7% on Thursday, trading as low as $6.21 before ending at $6.28, with volume running well below average.
• Despite the pullback, analyst sentiment remains positive: the stock carries an average “Buy” rating and a consensus price target of $9.72, with several firms recently raising their ratings or targets.
• The company’s valuation and balance sheet metrics include a low P/E of 4.39, a market cap of about $222 million, and a debt-to-equity ratio of 1.71, while institutional investors have recently increased positions and now own 31.7% of the stock.

Gran Tierra Energy Inc. (NYSE:GTE - Get Free Report) shares dropped 4.7% on Thursday . The stock traded as low as $6.21 and last traded at $6.28. 242,053 shares traded hands during trading, a decline of 57% from the average daily volume of 564,186 shares. The stock had previously closed at $6.59.

Analysts Set New Price Targets

A number of research firms have recently commented on GTE. Canaccord Genuity Group set a $14.00 price objective on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. Raymond James Financial upgraded shares of Gran Tierra Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, March 30th. Finally, Roth Capital raised shares of Gran Tierra Energy from a "neutral" rating to a "buy" rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $9.72.

Gran Tierra Energy Trading Down 4.7%

The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $222.06 million, a P/E ratio of 4.39 and a beta of 0.13. The firm's 50-day simple moving average is $7.80 and its 200-day simple moving average is $6.97.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Gran Tierra Energy by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company's stock valued at $484,000 after acquiring an additional 6,015 shares during the last quarter. Empowered Funds LLC raised its position in Gran Tierra Energy by 7.2% during the first quarter. Empowered Funds LLC now owns 233,271 shares of the company's stock valued at $1,150,000 after purchasing an additional 15,719 shares in the last quarter. Creative Planning bought a new stake in Gran Tierra Energy during the second quarter worth about $117,000. XTX Topco Ltd bought a new stake in Gran Tierra Energy during the second quarter worth about $92,000. Finally, Marshall Wace LLP purchased a new position in shares of Gran Tierra Energy in the 2nd quarter worth about $97,000. 31.70% of the stock is currently owned by hedge funds and other institutional investors.

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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