Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC cut its stake in shares of Gran Tierra Energy Inc. (NYSEAMERICAN:GTEGet Rating) by 22.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 387,025 shares of the company’s stock after selling 109,500 shares during the period. Ingalls & Snyder LLC owned about 0.11% of Gran Tierra Energy worth $295,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Gran Tierra Energy by 1.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,477,484 shares of the company’s stock valued at $1,124,000 after purchasing an additional 20,427 shares during the period. Bank of America Corp DE grew its holdings in shares of Gran Tierra Energy by 17.4% in the fourth quarter. Bank of America Corp DE now owns 88,915 shares of the company’s stock valued at $68,000 after purchasing an additional 13,200 shares during the period. Jane Street Group LLC purchased a new stake in shares of Gran Tierra Energy in the third quarter valued at about $55,000. Two Sigma Advisers LP grew its holdings in shares of Gran Tierra Energy by 54.9% in the third quarter. Two Sigma Advisers LP now owns 454,295 shares of the company’s stock valued at $336,000 after purchasing an additional 161,095 shares during the period. Finally, Two Sigma Investments LP grew its holdings in shares of Gran Tierra Energy by 56.9% in the third quarter. Two Sigma Investments LP now owns 1,663,653 shares of the company’s stock valued at $1,229,000 after purchasing an additional 603,317 shares during the period. 19.95% of the stock is owned by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Gran Tierra Energy from C$1.65 to C$1.75 in a research note on Wednesday, February 23rd. Canaccord Genuity Group began coverage on shares of Gran Tierra Energy in a research report on Monday, April 18th. They set a “buy” rating on the stock. TheStreet raised shares of Gran Tierra Energy from a “d+” rating to a “c” rating in a research report on Wednesday, May 4th. Canaccord Genuity Group initiated coverage on shares of Gran Tierra Energy in a research note on Tuesday, April 19th. They issued a “buy” rating and a C$2.70 price objective for the company. Finally, BMO Capital Markets increased their target price on shares of Gran Tierra Energy from C$1.25 to C$1.75 in a research note on Wednesday, February 23rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $1.89.

Shares of GTE stock opened at $1.48 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.08. The company has a market cap of $545.32 million, a PE ratio of -8.39 and a beta of 1.99. Gran Tierra Energy Inc. has a 1 year low of $0.44 and a 1 year high of $2.02.

Gran Tierra Energy (NYSEAMERICAN:GTEGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Gran Tierra Energy had a negative return on equity of 0.58% and a negative net margin of 17.32%.

About Gran Tierra Energy (Get Rating)

Gran Tierra Energy Inc, together with its subsidiaries, engages in the exploration and production of oil and gas properties in Colombia and Ecuador. As of December 31, 2021, it had total proved undeveloped reserves of 24.8 million barrels of oil equivalent in Colombia. The company was incorporated in 2003 and is headquartered in Calgary, Canada.

See Also

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Institutional Ownership by Quarter for Gran Tierra Energy (NYSEAMERICAN:GTE)

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