Granite Ridge Resources (NYSE:GRNT) Director Purchases $20,680.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director John Mccartney bought 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average cost of $5.17 per share, for a total transaction of $20,680.00. Following the completion of the purchase, the director directly owned 91,091 shares of the company’s stock, valued at $470,940.47. The trade was a 4.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

John Mccartney also recently made the following trade(s):

• On Tuesday, November 11th, John Mccartney acquired 4,000 shares of Granite Ridge Resources stock. The stock was acquired at an average price of $5.26 per share, for a total transaction of $21,040.00.
• On Thursday, August 21st, John Mccartney purchased 974 shares of Granite Ridge Resources stock. The stock was acquired at an average cost of $5.30 per share, with a total value of $5,162.20.

Granite Ridge Resources Trading Up 0.5%

Shares of NYSE:GRNT traded up $0.03 on Monday, hitting $5.21. The company had a trading volume of 159,770 shares, compared to its average volume of 533,355. Granite Ridge Resources, Inc. has a 1 year low of $4.52 and a 1 year high of $7.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $5.36 and its two-hundred day simple moving average is $5.52. The firm has a market capitalization of $683.16 million, a price-to-earnings ratio of 18.59, a P/E/G ratio of 2.01 and a beta of 0.34.

Granite Ridge Resources (NYSE:GRNT) last posted its quarterly earnings data on Monday, September 11th. The company reported $0.61 earnings per share for the quarter. The business had revenue of $150.27 million for the quarter. Granite Ridge Resources had a return on equity of 12.12% and a net margin of 8.38%. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date is Friday, November 28th. Granite Ridge Resources’s payout ratio is 157.14%.

Analyst Ratings Changes

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

Institutional Trading of Granite Ridge Resources

A number of large investors have recently made changes to their positions in the stock. XTX Topco Ltd boosted its holdings in Granite Ridge Resources by 6.0% in the second quarter. XTX Topco Ltd now owns 36,850 shares of the company’s stock worth $235,000 after purchasing an additional 2,095 shares during the last quarter. Invesco Ltd. boosted its position in Granite Ridge Resources by 3.1% in the first quarter. Invesco Ltd. now owns 78,212 shares of the company’s stock worth $476,000 after purchasing an additional 2,344 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Granite Ridge Resources by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,883 shares of the company’s stock valued at $152,000 after purchasing an additional 2,798 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of Granite Ridge Resources by 2.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 122,994 shares of the company’s stock worth $783,000 after purchasing an additional 2,950 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its position in Granite Ridge Resources by 35.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 11,499 shares of the company’s stock valued at $62,000 after buying an additional 3,010 shares during the period. 31.56% of the stock is currently owned by institutional investors.

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.