Gran Tierra Energy (NYSE:GTE) Trading Down 4.7% – Time to Sell?

Gran Tierra Energy Inc. (NYSE:GTE)’s stock price was down 4.7% on Thursday . The company traded as low as $6.21 and last traded at $6.28. 242,053 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 564,186 shares. The stock had previously closed at $6.59.

Wall Street Analyst Weigh In

GTE has been the topic of a number of recent research reports. Canaccord Genuity Group set a $14.00 price target on shares of Gran Tierra Energy in a research report on Tuesday, April 14th. Raymond James Financial raised shares of Gran Tierra Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, March 30th. Finally, Roth Capital raised shares of Gran Tierra Energy from a “neutral” rating to a “buy” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $9.72.

Gran Tierra Energy Trading Down 4.7%

The company has a debt-to-equity ratio of 1.71, a current ratio of 1.31 and a quick ratio of 1.19. The firm’s 50 day moving average is $7.80 and its 200 day moving average is $6.97. The company has a market capitalization of $222.06 million, a PE ratio of 4.39 and a beta of 0.13.

Institutional Trading of Gran Tierra Energy

Several large investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in 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 valued at $76,000 after purchasing an additional 11,651 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gran Tierra Energy during the fourth quarter valued at approximately $81,000. nVerses Capital LLC bought a new position in shares of Gran Tierra Energy during the fourth quarter valued at approximately $84,000. XTX Topco Ltd purchased a new stake in Gran Tierra Energy in the second quarter worth $92,000. Finally, Marshall Wace LLP bought a new stake in Gran Tierra Energy in the second quarter valued at $97,000. 31.70% of the stock is owned by institutional investors.

Gran Tierra Energy Company Profile

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.