Two Sigma Investments LP purchased a new stake in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 361,724 shares of the company’s stock, valued at approximately $977,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in GTE. Alliancebernstein L.P. lifted its stake in shares of Gran Tierra Energy by 5.2% in the 4th quarter. Alliancebernstein L.P. now owns 7,259,932 shares of the company’s stock worth $19,602,000 after purchasing an additional 359,179 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Gran Tierra Energy by 53.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,496,486 shares of the company’s stock worth $12,141,000 after purchasing an additional 1,569,708 shares during the period. Wasatch Advisors Inc. lifted its stake in shares of Gran Tierra Energy by 14.7% in the 4th quarter. Wasatch Advisors Inc. now owns 3,290,293 shares of the company’s stock worth $8,884,000 after purchasing an additional 420,776 shares during the period. California Public Employees Retirement System lifted its stake in shares of Gran Tierra Energy by 17.8% in the 4th quarter. California Public Employees Retirement System now owns 2,253,866 shares of the company’s stock worth $6,085,000 after purchasing an additional 340,819 shares during the period. Finally, Prince Street Capital Management LLC lifted its stake in shares of Gran Tierra Energy by 13.1% in the 4th quarter. Prince Street Capital Management LLC now owns 1,882,000 shares of the company’s stock worth $5,105,000 after purchasing an additional 218,000 shares during the period.
NYSEAMERICAN GTE opened at $2.72 on Monday. Gran Tierra Energy Inc has a 12 month low of $1.93 and a 12 month high of $3.00.
Gran Tierra Energy (NYSEAMERICAN:GTE) last released its earnings results on Tuesday, February 27th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Gran Tierra Energy had a return on equity of 1.28% and a net margin of 3.02%. The firm had revenue of $127.18 million for the quarter, compared to the consensus estimate of $125.45 million.
Gran Tierra Energy announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 7th that authorizes the company to buyback 500% of shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In related news, Director Brooke N. Wade acquired 150,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was acquired at an average cost of $2.56 per share, with a total value of $384,000.00. Following the acquisition, the director now directly owns 242,600 shares in the company, valued at approximately $621,056. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rodger Derrick Trimble acquired 15,200 shares of the business’s stock in a transaction on Monday, March 5th. The shares were bought at an average cost of $2.54 per share, with a total value of $38,608.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 173,080 shares of company stock worth $442,544.
A number of equities research analysts have commented on the stock. TheStreet upgraded shares of Gran Tierra Energy from a “d+” rating to a “c” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Gran Tierra Energy from a “hold” rating to a “strong-buy” rating and set a $3.00 target price on the stock in a research note on Thursday, March 1st.
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Gran Tierra Energy Profile
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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