Unison Advisors LLC Acquires New Position in Granite Ridge Resources, Inc. $GRNT

Unison Advisors LLC bought a new position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 137,101 shares of the company’s stock, valued at approximately $644,000.

Other hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Granite Ridge Resources by 12.9% in the third quarter. American Century Companies Inc. now owns 2,661,098 shares of the company’s stock worth $14,397,000 after buying an additional 303,059 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Granite Ridge Resources during the second quarter valued at $657,000. Russell Investments Group Ltd. increased its position in shares of Granite Ridge Resources by 44.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 20,765 shares of the company’s stock valued at $112,000 after acquiring an additional 6,370 shares during the period. Sherbrooke Park Advisers LLC increased its position in shares of Granite Ridge Resources by 12.9% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 20,573 shares of the company’s stock valued at $111,000 after acquiring an additional 2,357 shares during the period. Finally, Advisory Services Network LLC raised its stake in Granite Ridge Resources by 37.9% in the 3rd quarter. Advisory Services Network LLC now owns 14,560 shares of the company’s stock worth $79,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.

Insider Buying and Selling

In other Granite Ridge Resources news, CEO Tyler Farquharson purchased 12,500 shares of the stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $5.21 per share, for a total transaction of $65,125.00. Following the completion of the transaction, the chief executive officer owned 334,743 shares of the company’s stock, valued at $1,744,011.03. This trade represents a 3.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michele J. Everard acquired 5,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $5.17 per share, for a total transaction of $25,850.00. Following the completion of the acquisition, the director owned 71,143 shares of the company’s stock, valued at $367,809.31. This trade represents a 7.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 43,158 shares of company stock worth $222,814 in the last ninety days. 8.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GRNT shares. Zacks Research raised Granite Ridge Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings raised Granite Ridge Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Granite Ridge Resources Stock Up 0.3%

GRNT stock opened at $5.75 on Monday. The firm has a market cap of $755.50 million, a PE ratio of 31.93, a P/E/G ratio of 1.06 and a beta of 0.26. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s fifty day moving average is $5.23 and its 200 day moving average is $5.13. Granite Ridge Resources, Inc. has a one year low of $4.18 and a one year high of $6.72.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Granite Ridge Resources had a return on equity of 8.91% and a net margin of 5.41%.The firm had revenue of $105.49 million during the quarter, compared to analyst estimates of $120.76 million. On average, research analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.

Granite Ridge Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Friday, February 27th. Granite Ridge Resources’s payout ratio is currently 244.44%.

Granite Ridge Resources Company Profile

Granite Ridge Resources, Inc operates as a non-operated oil and gas exploration and production company. It owns a portfolio of wells and acreage across the Permian and other unconventional basins in the United States. Granite Ridge Resources, Inc is based in Dallas, Texas.