Stock Traders Buy Large Volume of Call Options on Gran Tierra Energy (NYSEAMERICAN:GTE)

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Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) saw unusually large options trading activity on Wednesday. Stock traders bought 12,928 call options on the company. This represents an increase of 310% compared to the average daily volume of 3,153 call options.

In other Gran Tierra Energy news, Director Brooke N. Wade purchased 200,000 shares of Gran Tierra Energy stock in a transaction on Wednesday, December 9th. The stock was bought at an average cost of $0.39 per share, with a total value of $78,000.00. Following the transaction, the director now owns 427,600 shares of the company’s stock, valued at approximately $166,764. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gmt Capital Corp sold 389,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 27th. The stock was sold at an average price of $0.47, for a total transaction of $183,065.00. Following the transaction, the insider now directly owns 60,680,529 shares of the company’s stock, valued at $28,519,848.63. The disclosure for this sale can be found here. Insiders sold a total of 10,568,036 shares of company stock valued at $3,786,821 over the last quarter. 3.00% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC acquired a new position in Gran Tierra Energy in the third quarter valued at approximately $28,000. Squarepoint Ops LLC acquired a new stake in shares of Gran Tierra Energy during the third quarter worth $67,000. JPMorgan Chase & Co. lifted its holdings in shares of Gran Tierra Energy by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 454,987 shares of the company’s stock worth $107,000 after purchasing an additional 163,730 shares during the period. GSA Capital Partners LLP raised its position in Gran Tierra Energy by 197.3% in the third quarter. GSA Capital Partners LLP now owns 674,764 shares of the company’s stock worth $157,000 after acquiring an additional 447,825 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Gran Tierra Energy by 126.4% in the fourth quarter. Renaissance Technologies LLC now owns 3,665,606 shares of the company’s stock worth $1,334,000 after acquiring an additional 2,046,372 shares in the last quarter. Hedge funds and other institutional investors own 42.89% of the company’s stock.

Shares of NYSEAMERICAN:GTE opened at $1.01 on Thursday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.69 and a quick ratio of 1.69. The firm has a market capitalization of $370.65 million, a PE ratio of -0.53 and a beta of 2.25. The firm’s 50-day moving average is $0.36 and its two-hundred day moving average is $0.27. Gran Tierra Energy has a 1 year low of $0.18 and a 1 year high of $1.06.

Separately, Scotiabank lifted their target price on shares of Gran Tierra Energy from $0.55 to $0.65 and gave the company an “underperform” rating in a report on Thursday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $0.56.

About Gran Tierra Energy

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, 2019, it had total proved undeveloped reserves of 31.0 million barrels of oil equivalent in Colombia. The company was founded in 2003 and is headquartered in Calgary, Canada.

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