Campbell & CO Investment Adviser LLC Buys New Stake in Granite Ridge Resources, Inc. $GRNT

Campbell & CO Investment Adviser LLC purchased a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 103,480 shares of the company’s stock, valued at approximately $659,000. Campbell & CO Investment Adviser LLC owned 0.08% of Granite Ridge Resources as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Ieq Capital LLC purchased a new stake in shares of Granite Ridge Resources during the 1st quarter worth about $62,000. Quantbot Technologies LP raised its holdings in Granite Ridge Resources by 81.2% in the 1st quarter. Quantbot Technologies LP now owns 16,512 shares of the company’s stock worth $100,000 after purchasing an additional 7,400 shares during the period. Great Lakes Advisors LLC purchased a new position in Granite Ridge Resources during the first quarter worth approximately $113,000. Savant Capital LLC purchased a new position in Granite Ridge Resources during the second quarter worth approximately $126,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Granite Ridge Resources in the second quarter valued at approximately $127,000. Institutional investors and hedge funds own 31.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GRNT. Zacks Research downgraded Granite Ridge Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Granite Ridge Resources in a report on Friday, October 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, Director John Mccartney acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $5.25 per share, with a total value of $26,250.00. Following the purchase, the director owned 82,117 shares in the company, valued at approximately $431,114.25. The trade was a 6.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have bought 10,574 shares of company stock worth $55,662. 8.50% of the stock is currently owned by corporate insiders.

Granite Ridge Resources Stock Performance

Shares of NYSE:GRNT opened at $5.20 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 1.32. Granite Ridge Resources, Inc. has a 1 year low of $4.52 and a 1 year high of $7.00. The firm has a market capitalization of $681.84 million, a PE ratio of 18.55, a P/E/G ratio of 2.02 and a beta of 0.34. The business’s 50 day moving average price is $5.36 and its 200-day moving average price is $5.51.

Granite Ridge Resources (NYSE:GRNT) last posted its quarterly earnings data on Monday, September 11th. The company reported $0.61 EPS for the quarter. Granite Ridge Resources had a return on equity of 12.12% and a net margin of 8.38%.The firm had revenue of $150.27 million during the quarter. As a group, equities research analysts expect that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

Granite Ridge Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, November 28th. This represents a $0.44 dividend on an annualized basis and a yield of 8.5%. Granite Ridge Resources’s payout ratio is presently 157.14%.

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.