Granite Ridge Resources (NYSE:GRNT) Director Buys $50,038.04 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director Matthew Reade Miller acquired 9,388 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were purchased at an average price of $5.33 per share, with a total value of $50,038.04. Following the completion of the acquisition, the director owned 1,297,518 shares of the company’s stock, valued at $6,915,770.94. This represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Matthew Reade Miller also recently made the following trade(s):

• On Monday, September 15th, Matthew Reade Miller bought 600 shares of Granite Ridge Resources stock. The stock was purchased at an average price of $5.35 per share, for a total transaction of $3,210.00.

Granite Ridge Resources Stock Up 1.6%

Shares of GRNT traded up $0.09 during mid-day trading on Friday, hitting $5.42. 415,002 shares of the company’s stock were exchanged, compared to its average volume of 535,615. The company has a market cap of $710.72 million, a PE ratio of 19.34, a P/E/G ratio of 2.12 and a beta of 0.34. Granite Ridge Resources, Inc. has a 52 week low of $4.52 and a 52 week high of $7.00. The company has a 50-day simple moving average of $5.28 and a 200 day simple moving average of $5.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 1.41.

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

Granite Ridge Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Friday, November 28th. Granite Ridge Resources’s dividend payout ratio is currently 157.14%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research downgraded Granite Ridge Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Granite Ridge Resources in a research note 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRNT. XTX Topco Ltd lifted its stake in Granite Ridge Resources by 49.4% in the 1st quarter. XTX Topco Ltd now owns 34,755 shares of the company’s stock valued at $211,000 after purchasing an additional 11,497 shares during the last quarter. Invesco Ltd. raised its stake in Granite Ridge Resources by 3.1% in the first quarter. Invesco Ltd. now owns 78,212 shares of the company’s stock valued at $476,000 after buying an additional 2,344 shares during the period. Nuveen LLC acquired a new stake in shares of Granite Ridge Resources in the first quarter valued at approximately $5,860,000. American Century Companies Inc. lifted its position in shares of Granite Ridge Resources by 9.4% in the first quarter. American Century Companies Inc. now owns 2,249,990 shares of the company’s stock valued at $13,680,000 after buying an additional 193,912 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Granite Ridge Resources by 81.2% during the 1st quarter. Quantbot Technologies LP now owns 16,512 shares of the company’s stock worth $100,000 after acquiring an additional 7,400 shares during the period. 31.56% of the stock is currently owned by institutional investors and hedge funds.

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.