Granite Ridge Resources (NYSE:GRNT) Shares Gap Down to $6.00

Granite Ridge Resources, Inc. (NYSE:GRNT – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.00, but opened at $5.35. Granite Ridge Resources shares last traded at $5.18, with a volume of 130,990 shares changing hands.

Granite Ridge Resources Price Performance

The firm has a 50 day moving average price of $5.67 and a two-hundred day moving average price of $7.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.28 and a current ratio of 1.60.

Granite Ridge Resources (NYSE:GRNT – Get Rating) last issued its quarterly earnings results on Monday, March 27th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.09). The firm had revenue of $116.34 million for the quarter. On average, analysts predict that Granite Ridge Resources, Inc. will post 0.99 EPS for the current fiscal year.

Granite Ridge Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.44 annualized dividend and a dividend yield of 8.29%.

Hedge Funds Weigh In On Granite Ridge Resources

Large investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in Granite Ridge Resources in the first quarter worth about $67,000. Jane Street Group LLC bought a new stake in shares of Granite Ridge Resources during the first quarter valued at approximately $80,000. Avalon Investment & Advisory bought a new stake in shares of Granite Ridge Resources during the fourth quarter valued at approximately $141,000. Cubist Systematic Strategies LLC bought a new stake in shares of Granite Ridge Resources during the first quarter valued at approximately $93,000. Finally, State Street Corp bought a new stake in shares of Granite Ridge Resources during the first quarter valued at approximately $125,000.

Granite Ridge Resources Company Profile

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Grey Rock Energy Management, LLC manages private funds with interests in areas of the Midland, Delaware, Bakken, Eagle Ford, DJ, and Haynesville play. It invests in oil and gas exploration and production. The company was formerly known as Granite Ridge Resources, Inc The company is based in Dallas, Texas.