Gran Tierra Energy (NYSE:GTE) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of Gran Tierra Energy (NYSE:GTE) from a hold rating to a moderate buy rating in a research report report published on Monday,Zacks.com reports.

A number of other research firms have also recently commented on GTE. Canaccord Genuity Group cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, January 27th. Roth Mkm downgraded Gran Tierra Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.45.

Gran Tierra Energy Stock Performance

NYSE GTE opened at $8.18 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.71. The firm’s fifty day moving average price is $6.83 and its two-hundred day moving average price is $5.17. Gran Tierra Energy has a 1 year low of $3.09 and a 1 year high of $9.74. The firm has a market capitalization of $288.75 million, a P/E ratio of 5.72 and a beta of 0.35.

Hedge Funds Weigh In On Gran Tierra Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC lifted its stake in shares of Gran Tierra Energy by 0.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 559,360 shares of the company’s stock worth $2,372,000 after buying an additional 5,098 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Gran Tierra Energy by 6.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,090 shares of the company’s stock valued at $484,000 after buying an additional 6,015 shares during the last quarter. Bank of America Corp DE grew its stake in Gran Tierra Energy by 270.3% in the 2nd quarter. Bank of America Corp DE now owns 15,962 shares of the company’s stock valued at $76,000 after buying an additional 11,651 shares during the last quarter. Quadrature Capital Ltd bought a new position in Gran Tierra Energy in the 2nd quarter valued at about $56,000. Finally, PDT Partners LLC raised its holdings 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. 31.70% of the stock is currently owned by institutional investors and hedge funds.

About Gran Tierra Energy

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.