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Equinox Partners LP and its affiliates have acquired a significant number of shares in Gran Tierra Energy Inc. (NYSE:GTE), according to a recent SEC filing. The transactions, dated April 8, 2025, involved the purchase of 225,746 common shares at a price of $3.81 per share, totaling approximately $860,092. The purchase comes as GTE shares have declined significantly, with InvestingPro data showing a 54% drop over the past year and the stock trading near its 52-week low of $3.33.
The shares were acquired across multiple entities managed by Equinox Partners Investment Management LLC, including Equinox Partners LP, Mason Hill Partners LP, and Kuroto Fund LP. Following these transactions, Equinox Partners LP holds a substantial position in Gran Tierra Energy, with shares owned by the entities totaling over 3.5 million. According to InvestingPro analysis, GTE operates with a moderate debt level, maintaining a debt-to-equity ratio of 1.84 and a current ratio of 0.66.
These acquisitions underscore Equinox Partners' continued interest in Gran Tierra Energy, a company engaged in the exploration and production of crude petroleum and natural gas. The transactions were executed under indirect ownership arrangements, with Equinox Partners LP acting on behalf of its managed accounts and funds.
Sean M. Fieler, the manager at Equinox Partners Investment Management LLC, signed the filings on behalf of the reporting entities. The purchases reflect a strategic investment decision by Equinox Partners to enhance its portfolio within the energy sector.
In other recent news, Gran Tierra Energy Inc. reported a significant financial turnaround for the fourth quarter of 2024, achieving a net income of $3 million, a notable recovery from a net loss of $6.3 million in the same period the previous year. Despite this positive development, the company's adjusted EBITDA decreased by 8% to $367 million, and revenue from net oil sales saw a slight 2% decrease to $622 million. Gran Tierra has set ambitious production guidance for 2025, targeting 47,000 to 53,000 barrels of oil equivalent per day. The company plans to allocate 25% of its capital program to exploration, with multiple wells planned across its operational regions. Analysts from Bank of America and RBC Capital Markets have shown interest in the company's operational costs and exploration activities, highlighting these as areas of focus for investors. Furthermore, Gran Tierra has been actively repurchasing shares, acquiring 6.7% of outstanding shares, demonstrating a commitment to long-term shareholder value. The company also aims to reduce gross debt to $600 million by the end of 2026 and $500 million by 2027.
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