Gran Tierra Energy (NYSE:GTE) Stock Price Up 1.9% – Should You Buy?

Gran Tierra Energy Inc. (NYSE:GTE) was up 1.9% on Thursday . The stock traded as high as $8.17 and last traded at $8.04. Approximately 359,761 shares traded hands during trading, a decline of 44% from the average daily volume of 636,887 shares. The stock had previously closed at $7.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GTE shares. Raymond James Financial raised Gran Tierra Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, March 30th. Roth Mkm cut shares of Gran Tierra Energy from a “buy” rating to a “neutral” rating in a report on Thursday, January 29th. Finally, Canaccord Genuity Group set a $14.00 target price on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Gran Tierra Energy has a consensus rating of “Buy” and a consensus price target of $9.73.

Gran Tierra Energy Price Performance

The firm has a market capitalization of $284.29 million, a PE ratio of 5.62 and a beta of 0.17. 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 company has a fifty day moving average price of $8.57 and a two-hundred day moving average price of $6.39.

Institutional Investors Weigh In On Gran Tierra Energy

Large investors have recently modified their holdings of the company. Equinox Partners Investment Management LLC grew its position in shares of Gran Tierra Energy by 25.2% during the fourth quarter. Equinox Partners Investment Management LLC now owns 6,381,471 shares of the company’s stock worth $27,057,000 after acquiring an additional 1,283,783 shares during the last quarter. LM Asset Management Inc. raised its position in Gran Tierra Energy by 32.2% in the 4th quarter. LM Asset Management Inc. now owns 3,691,420 shares of the company’s stock valued at $15,652,000 after purchasing an additional 899,620 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Gran Tierra Energy by 2.1% during the 1st quarter. Renaissance Technologies LLC now owns 776,680 shares of the company’s stock worth $6,967,000 after purchasing an additional 16,300 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Gran Tierra Energy by 2,226.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 604,377 shares of the company’s stock worth $5,421,000 after purchasing an additional 578,397 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in 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 purchasing an additional 5,098 shares during the last quarter. 31.70% of the stock is 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.