Granite Ridge Resources, Inc. $GRNT Stock Position Cut by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 37.1% during the third quarter, Holdings Channel reports. The institutional investor owned 171,291 shares of the company’s stock after selling 100,835 shares during the period. GSA Capital Partners LLP’s holdings in Granite Ridge Resources were worth $927,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in shares of Granite Ridge Resources during the third quarter valued at approximately $26,000. Osaic Holdings Inc. boosted its stake in Granite Ridge Resources by 264.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,506 shares of the company’s stock valued at $35,000 after purchasing an additional 3,994 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Granite Ridge Resources by 2,398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,721 shares of the company’s stock valued at $36,000 after purchasing an additional 5,492 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Granite Ridge Resources by 103.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,133 shares of the company’s stock valued at $58,000 after purchasing an additional 4,635 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Granite Ridge Resources in the 2nd quarter worth $71,000. 31.56% of the stock is owned by institutional investors and hedge funds.

Granite Ridge Resources Stock Down 0.5%

GRNT stock opened at $5.23 on Friday. The firm has a market cap of $686.70 million, a PE ratio of 18.69, a P/E/G ratio of 2.58 and a beta of 0.35. Granite Ridge Resources, Inc. has a 12 month low of $4.18 and a 12 month high of $6.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a 50 day simple moving average of $4.76 and a 200 day simple moving average of $5.13.

Granite Ridge Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Friday, February 27th. Granite Ridge Resources’s dividend payout ratio is 157.14%.

Insider Buying and Selling at Granite Ridge Resources

In related news, Director Matthew Reade Miller bought 9,388 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were acquired at an average cost of $5.33 per share, for a total transaction of $50,038.04. Following the acquisition, the director directly owned 1,297,518 shares of the company’s stock, valued at $6,915,770.94. The trade was a 0.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Mccartney bought 5,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were bought at an average cost of $5.26 per share, for a total transaction of $26,300.00. Following the completion of the transaction, the director directly owned 113,117 shares of the company’s stock, valued at $594,995.42. This trade represents a 4.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 20,062 shares of company stock valued at $106,668. Corporate insiders own 8.50% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Granite Ridge Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.00.

Granite Ridge Resources 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.