Insider Selling: Gran Tierra Energy (NYSE:GTE) Major Shareholder Sells 165,377 Shares of Stock

Gran Tierra Energy Inc. (NYSE:GTEGet Free Report) major shareholder Equinox Partners Investment Ma sold 165,377 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $9.49, for a total transaction of $1,569,427.73. Following the transaction, the insider owned 357,833 shares in the company, valued at approximately $3,395,835.17. This trade represents a 31.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Tuesday, August 11th, Equinox Partners Investment Ma sold 248,510 shares of Gran Tierra Energy stock. The stock was 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 value 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 value 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 value of $5,366,652.80.

Gran Tierra Energy Trading Up 1.6%

NYSE:GTE traded up $0.15 during mid-day trading on Thursday, hitting $9.50. The company had a trading volume of 1,016,250 shares, compared to its average volume of 704,543. The business’s fifty day moving average is $7.18 and its two-hundred day moving average is $7.48. Gran Tierra Energy Inc. has a fifty-two week low of $3.09 and a fifty-two week high of $11.52. The firm has a market cap of $336.11 million, a P/E ratio of 6.64 and a beta of 0.13. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.19 and a current ratio of 1.31.

Hedge Funds Weigh In On Gran Tierra Energy

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake 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 purchasing an additional 11,651 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Gran Tierra Energy in the 4th quarter valued at $81,000. nVerses Capital LLC acquired a new position in shares of Gran Tierra Energy in the fourth quarter valued at about $84,000. XTX Topco Ltd bought a new position in shares of Gran Tierra Energy during the second quarter worth approximately $92,000. Finally, Marshall Wace LLP acquired a new position in Gran Tierra Energy in the 2nd quarter valued at $97,000. 31.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Roth Capital reissued a “buy” rating on shares of Gran Tierra Energy in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.72.

Get Our Latest Stock Analysis on Gran Tierra Energy

About Gran Tierra Energy

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Gran Tierra Energy (NYSE:GTE)

Receive News & Ratings for Gran Tierra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gran Tierra Energy and related companies with MarketBeat.com's FREE daily email newsletter.