Connor Clark & Lunn Investment Management Ltd. Has $19.77 Million Position in Gran Tierra Energy Inc (GTE)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) by 10.7% in the first quarter, Holdings Channel reports. The institutional investor owned 8,687,993 shares of the company’s stock after selling 1,039,783 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gran Tierra Energy were worth $19,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GTE. Tokio Marine Asset Management Co. Ltd. bought a new position in Gran Tierra Energy during the fourth quarter worth $41,000. WINTON GROUP Ltd increased its stake in Gran Tierra Energy by 219.4% in the fourth quarter. WINTON GROUP Ltd now owns 34,246 shares of the company’s stock valued at $74,000 after purchasing an additional 23,524 shares in the last quarter. Jane Street Group LLC increased its stake in Gran Tierra Energy by 10.6% in the fourth quarter. Jane Street Group LLC now owns 48,144 shares of the company’s stock valued at $104,000 after purchasing an additional 4,600 shares in the last quarter. United Services Automobile Association increased its stake in Gran Tierra Energy by 45.3% in the fourth quarter. United Services Automobile Association now owns 58,146 shares of the company’s stock valued at $126,000 after purchasing an additional 18,137 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its stake in Gran Tierra Energy by 490.2% in the first quarter. K.J. Harrison & Partners Inc now owns 60,200 shares of the company’s stock valued at $137,000 after purchasing an additional 50,000 shares in the last quarter.

In other Gran Tierra Energy news, major shareholder Gmt Capital Corp acquired 6,444,800 shares of Gran Tierra Energy stock in a transaction dated Tuesday, April 2nd. The stock was purchased at an average cost of $2.37 per share, for a total transaction of $15,274,176.00. Following the completion of the acquisition, the insider now directly owns 67,875,186 shares of the company’s stock, valued at $160,864,190.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Rodger Derrick Trimble acquired 16,800 shares of Gran Tierra Energy stock in a transaction dated Friday, March 1st. The shares were acquired at an average price of $2.34 per share, with a total value of $39,312.00. Following the completion of the acquisition, the vice president now directly owns 84,650 shares of the company’s stock, valued at $198,081. The disclosure for this purchase can be found here. Insiders have bought 10,312,432 shares of company stock valued at $24,318,000 over the last quarter.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Gran Tierra Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. GMP Securities downgraded shares of Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Scotiabank reaffirmed a “buy” rating and issued a $5.50 price target on shares of Gran Tierra Energy in a research note on Friday, May 10th. Finally, Royal Bank of Canada downgraded shares of Gran Tierra Energy from a “top pick” rating to an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $4.75.

Shares of NYSEAMERICAN GTE opened at $2.08 on Thursday. Gran Tierra Energy Inc has a 1 year low of $2.01 and a 1 year high of $3.96.

Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $152.57 million for the quarter, compared to analysts’ expectations of $148.50 million. During the same period in the prior year, the company earned $0.05 EPS.

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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. As of December 31, 2018, the company had total proved undeveloped reserves of 17.3 million barrels of oil equivalent. Gran Tierra Energy Inc was incorporated in 2003 and is headquartered in Calgary, Canada.

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

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