TheStreet upgraded shares of Gran Tierra Energy (NYSEAMERICAN:GTE) from a d+ rating to a c- rating in a report issued on Wednesday.
Separately, Zacks Investment Research downgraded shares of Gran Tierra Energy from a strong-buy rating to a hold rating in a research note on Friday, March 2nd.
GTE opened at $2.72 on Wednesday. Gran Tierra Energy has a 1-year low of $1.93 and a 1-year high of $3.00.
Gran Tierra Energy announced that its board has authorized a share repurchase plan on Wednesday, March 7th that authorizes the company to repurchase 500% of outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
In other Gran Tierra Energy news, VP Rodger Derrick Trimble bought 15,200 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average cost of $2.54 per share, for a total transaction of $38,608.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brooke N. Wade bought 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average price of $2.56 per share, for a total transaction of $384,000.00. Following the completion of the transaction, the director now owns 242,600 shares in the company, valued at $621,056. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 173,080 shares of company stock worth $442,544.
A number of large investors have recently bought and sold shares of the stock. CIBC World Markets Inc. boosted its position in Gran Tierra Energy by 32.3% during the 4th quarter. CIBC World Markets Inc. now owns 87,434 shares of the company’s stock worth $236,000 after buying an additional 21,350 shares during the period. Tower Research Capital LLC TRC boosted its position in Gran Tierra Energy by 262.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 55,126 shares of the company’s stock worth $188,000 after buying an additional 39,931 shares during the period. Thomas White International Ltd. boosted its position in Gran Tierra Energy by 3.6% during the 4th quarter. Thomas White International Ltd. now owns 1,299,632 shares of the company’s stock worth $3,509,000 after buying an additional 44,856 shares during the period. Foundry Partners LLC boosted its position in Gran Tierra Energy by 3.3% during the 4th quarter. Foundry Partners LLC now owns 1,738,316 shares of the company’s stock worth $4,693,000 after buying an additional 55,410 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Gran Tierra Energy during the 4th quarter worth approximately $234,000.
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About Gran Tierra Energy
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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