Gran Tierra Energy (NYSE:GTE) Upgraded at Canaccord Genuity Group

Key Points

• Canaccord Genuity upgraded Gran Tierra Energy (GTE) from "hold" to "strong‑buy", and the stock carries an overall average analyst rating of "Buy" with a consensus target price of $9.73.
• Shares opened at $7.85 and were trading down about 1.6%; GTE's 12‑month range is $3.09–$9.74, with a market cap of $277.1 million and a P/E of 5.49.
• Institutional investors own roughly 31.7% of the company, and several funds recently initiated or increased positions (including GSA Capital, BNP Paribas, Graham Capital, XTX Topco and PDT Partners).

Gran Tierra Energy (NYSE:GTE - Get Free Report) was upgraded by equities research analysts at Canaccord Genuity Group from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Roth Mkm downgraded Gran Tierra Energy from a "buy" rating to a "neutral" rating in a report on Thursday, January 29th. Raymond James Financial raised Gran Tierra Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Gran Tierra Energy currently has an average rating of "Buy" and a consensus target price of $9.73.

Gran Tierra Energy Trading Down 1.6%

NYSE:GTE opened at $7.85 on Tuesday. Gran Tierra Energy has a twelve month low of $3.09 and a twelve month high of $9.74. 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 business has a 50 day moving average price of $7.30 and a two-hundred day moving average price of $5.42. The company has a market cap of $277.10 million, a P/E ratio of 5.49 and a beta of 0.14.

Institutional Investors Weigh In On Gran Tierra Energy

Large investors have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new stake in shares of Gran Tierra Energy in the 3rd quarter valued at approximately $633,000. Graham Capital Management L.P. bought a new stake in Gran Tierra Energy in the 4th quarter valued at $227,000. BNP Paribas Financial Markets raised its stake in Gran Tierra Energy by 418.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,977 shares of the company's stock valued at $226,000 after acquiring an additional 41,946 shares during the period. XTX Topco Ltd bought a new stake in Gran Tierra Energy in the 4th quarter valued at $214,000. Finally, PDT Partners LLC raised its stake in Gran Tierra Energy by 76.3% in the 2nd quarter. PDT Partners LLC now owns 27,364 shares of the company's stock valued at $131,000 after acquiring an additional 11,841 shares during the period. Institutional investors and hedge funds own 31.70% of the company's stock.

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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