Ajo LP lowered its stake in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) by 80.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,246 shares of the company’s stock after selling 1,289,105 shares during the quarter. Ajo LP’s holdings in Gran Tierra Energy were worth $704,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Swiss National Bank boosted its stake in Gran Tierra Energy by 3.1% during the first quarter. Swiss National Bank now owns 713,200 shares of the company’s stock worth $1,619,000 after buying an additional 21,500 shares in the last quarter. Intact Investment Management Inc. boosted its stake in Gran Tierra Energy by 19.2% during the first quarter. Intact Investment Management Inc. now owns 2,977,500 shares of the company’s stock worth $9,052,000 after buying an additional 479,800 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Gran Tierra Energy during the first quarter worth $114,000. Brandes Investment Partners LP boosted its stake in Gran Tierra Energy by 23.5% during the first quarter. Brandes Investment Partners LP now owns 175,956 shares of the company’s stock worth $399,000 after buying an additional 33,463 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Gran Tierra Energy by 29.0% during the first quarter. BlackRock Inc. now owns 1,087,254 shares of the company’s stock worth $2,467,000 after buying an additional 244,551 shares in the last quarter.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Gran Tierra Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Royal Bank of Canada downgraded shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research note on Tuesday, May 21st. Finally, Scotiabank restated a “buy” rating and issued a $5.50 target price on shares of Gran Tierra Energy in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.75.
Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its earnings results on Tuesday, May 7th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). The firm had revenue of $152.57 million for the quarter, compared to the consensus estimate of $148.50 million. During the same quarter in the previous year, the company earned $0.05 EPS.
In other news, major shareholder Gmt Capital Corp bought 6,444,800 shares of Gran Tierra Energy stock in a transaction dated Tuesday, April 2nd. The shares were bought at an average price of $2.37 per share, for a total transaction of $15,274,176.00. Following the purchase, the insider now owns 67,875,186 shares of the company’s stock, valued at $160,864,190.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 10,120,032 shares of company stock worth $23,874,688 in the last 90 days.
Gran Tierra Energy Profile
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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