Teacher Retirement System of Texas reduced its stake in shares of Gran Tierra Energy Inc (NYSEAMERICAN:GTE) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,061 shares of the company’s stock after selling 43,140 shares during the quarter. Teacher Retirement System of Texas’ holdings in Gran Tierra Energy were worth $243,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew 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 purchasing an additional 39,931 shares during the last quarter. Timber Hill LLC purchased a new stake in shares of Gran Tierra Energy in the first quarter valued at about $219,000. Jane Street Group LLC purchased a new stake in shares of Gran Tierra Energy in the fourth quarter valued at about $234,000. Millennium Management LLC purchased a new stake in shares of Gran Tierra Energy in the fourth quarter valued at about $330,000. Finally, Pendal Group Ltd boosted its holdings in shares of Gran Tierra Energy by 1,241.6% in the first quarter. Pendal Group Ltd now owns 229,046 shares of the company’s stock valued at $639,000 after acquiring an additional 211,973 shares in the last quarter.
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Several analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, March 2nd. TheStreet downgraded shares of Gran Tierra Energy from a “c” rating to a “d+” rating in a report on Friday, March 16th.
Shares of NYSEAMERICAN:GTE opened at $3.23 on Friday. Gran Tierra Energy Inc has a fifty-two week low of $1.93 and a fifty-two week high of $3.52.
Gran Tierra Energy (NYSEAMERICAN:GTE) last issued its earnings results on Tuesday, May 1st. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.04). The firm had revenue of $138.23 million during the quarter, compared to analysts’ expectations of $136.40 million. Gran Tierra Energy had a net margin of 3.02% and a return on equity of 1.28%.
Gran Tierra Energy announced that its board has approved a share repurchase program on Wednesday, March 7th that authorizes the company to buyback 500% of outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management 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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