Massachusetts Financial Services Co. MA Decreases Stake in Gran Tierra Energy Inc. (GTE)

Massachusetts Financial Services Co. MA reduced its holdings in Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,530,788 shares of the company’s stock after selling 76,591 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Gran Tierra Energy were worth $32,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Gran Tierra Energy by 262.8% in the fourth 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 in the last quarter. Jane Street Group LLC acquired a new stake in Gran Tierra Energy during the fourth quarter worth about $234,000. CIBC World Markets Inc. increased its position in Gran Tierra Energy by 32.3% during the fourth quarter. CIBC World Markets Inc. now owns 87,434 shares of the company’s stock worth $236,000 after purchasing an additional 21,350 shares during the last quarter. Millennium Management LLC acquired a new stake in Gran Tierra Energy during the fourth quarter worth about $330,000. Finally, Teacher Retirement System of Texas increased its position in Gran Tierra Energy by 291.3% during the fourth quarter. Teacher Retirement System of Texas now owns 130,201 shares of the company’s stock worth $352,000 after purchasing an additional 96,931 shares during the last quarter.

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In related news, Director Brooke N. Wade purchased 150,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was acquired at an average cost of $2.56 per share, for a total transaction of $384,000.00. Following the completion of the transaction, the director now directly owns 242,600 shares in the company, valued at $621,056. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Rodger Derrick Trimble purchased 15,200 shares of the company’s stock in a transaction on Monday, March 5th. The shares were bought at an average price of $2.54 per share, with a total value of $38,608.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 173,080 shares of company stock valued at $442,544.

GTE has been the subject of several recent analyst reports. TheStreet cut shares of Gran Tierra Energy from a “c” rating to a “d+” rating in a research report on Friday, March 16th. Zacks Investment Research upgraded shares of Gran Tierra Energy from a “hold” rating to a “strong-buy” rating and set a $3.00 price objective for the company in a research report on Thursday, March 1st.

Gran Tierra Energy opened at $3.33 on Thursday, MarketBeat Ratings reports. Gran Tierra Energy Inc. has a 12-month low of $3.29 and a 12-month high of $3.34.

Gran Tierra Energy (NYSEAMERICAN:GTE) last released its quarterly earnings data on Tuesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.04). Gran Tierra Energy had a return on equity of 1.28% and a net margin of 3.02%. The firm had revenue of $138.23 million for the quarter, compared to analyst estimates of $136.40 million.

Gran Tierra Energy announced that its Board of Directors has authorized 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. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Gran Tierra Energy Profile

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, 2017, the company had total proved undeveloped reserves of 19.6 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)