Gran Tierra Energy Inc (NYSEAMERICAN:GTE) CFO Ryan Ellson Acquires 35,300 Shares

Gran Tierra Energy Inc (NYSEAMERICAN:GTE) CFO Ryan Ellson acquired 35,300 shares of the stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $1.08 per share, for a total transaction of $38,124.00. Following the purchase, the chief financial officer now directly owns 254,519 shares of the company’s stock, valued at approximately $274,880.52. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of Gran Tierra Energy stock opened at $1.05 on Friday. Gran Tierra Energy Inc has a 52 week low of $0.97 and a 52 week high of $2.97.

Gran Tierra Energy (NYSEAMERICAN:GTE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The business had revenue of $157.99 million during the quarter.

Several institutional investors have recently made changes to their positions in GTE. Luminus Management LLC lifted its stake in shares of Gran Tierra Energy by 19.2% in the 2nd quarter. Luminus Management LLC now owns 27,815,359 shares of the company’s stock valued at $43,996,000 after purchasing an additional 4,486,398 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Gran Tierra Energy by 74.7% in the 2nd quarter. Schroder Investment Management Group now owns 5,422,713 shares of the company’s stock valued at $11,117,000 after purchasing an additional 2,318,336 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Gran Tierra Energy by 32.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 5,205,012 shares of the company’s stock valued at $8,276,000 after purchasing an additional 1,288,794 shares during the last quarter. Mycio Wealth Partners LLC acquired a new position in shares of Gran Tierra Energy in the 2nd quarter valued at $1,410,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Gran Tierra Energy by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 5,456,161 shares of the company’s stock valued at $8,675,000 after purchasing an additional 575,161 shares during the last quarter.

A number of equities analysts have weighed in on GTE shares. TheStreet lowered Gran Tierra Energy from a “c” rating to a “d” rating in a research note on Wednesday. Scotiabank lowered Gran Tierra Energy from an “outperform” rating to a “sector perform” rating in a research note on Wednesday. Canaccord Genuity set a $4.00 price objective on Gran Tierra Energy and gave the stock a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research lowered Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, National Bank Financial initiated coverage on Gran Tierra Energy in a research note on Friday, October 11th. They set a “sector perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Gran Tierra Energy presently has a consensus rating of “Buy” and a consensus target price of $3.58.

About Gran Tierra Energy

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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