Granite Ridge Resources (NYSE:GRNT) Director Purchases $51,000.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director Matthew Reade Miller acquired 10,000 shares of Granite Ridge Resources stock in a transaction on Tuesday, March 10th. The stock was acquired at an average cost of $5.10 per share, for a total transaction of $51,000.00. Following the completion of the purchase, the director owned 1,328,181 shares of the company’s stock, valued at approximately $6,773,723.10. The trade was a 0.76% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, December 15th, Matthew Reade Miller bought 648 shares of Granite Ridge Resources stock. The shares were acquired at an average price of $5.13 per share, with a total value of $3,324.24.

Granite Ridge Resources Stock Performance

GRNT stock opened at $5.17 on Friday. The business’s fifty day moving average is $4.89 and its 200-day moving average is $5.12. The company has a quick ratio of 1.41, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The company has a market cap of $678.99 million, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 3.22 and a beta of 0.34. Granite Ridge Resources, Inc. has a twelve month low of $4.18 and a twelve month high of $6.72.

Granite Ridge Resources (NYSE:GRNT) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $105.49 million during the quarter, compared to the consensus estimate of $120.76 million. Equities research analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.

Granite Ridge Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, February 27th. This represents a $0.44 dividend on an annualized basis and a yield of 8.5%. Granite Ridge Resources’s dividend payout ratio (DPR) is 244.44%.

Analyst Ratings Changes

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

Institutional Trading of Granite Ridge Resources

Several hedge funds have recently added to or reduced their stakes in GRNT. XTX Topco Ltd lifted its holdings in Granite Ridge Resources by 6.0% during the second quarter. XTX Topco Ltd now owns 36,850 shares of the company’s stock worth $235,000 after acquiring an additional 2,095 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in Granite Ridge Resources by 12.9% in the third 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. Mercer Global Advisors Inc. ADV increased its holdings in shares of Granite Ridge Resources by 10.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,051 shares of the company’s stock worth $132,000 after acquiring an additional 2,596 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Granite Ridge Resources by 13.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,883 shares of the company’s stock worth $152,000 after acquiring an additional 2,798 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in shares of 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 worth $62,000 after purchasing an additional 3,010 shares during the period. Institutional investors and hedge funds own 31.56% of the company’s stock.

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.