Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Purchases $15,075.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was purchased at an average price of $6.03 per share, with a total value of $15,075.00. Following the transaction, the chief financial officer now owns 48,186 shares in the company, valued at approximately $290,561.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Granite Ridge Resources Stock Up 1.3 %

NYSE:GRNT opened at $6.22 on Friday. The firm has a market capitalization of $827.26 million, a PE ratio of 6.84 and a beta of 0.16. Granite Ridge Resources, Inc. has a 52 week low of $4.82 and a 52 week high of $10.16. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $6.06 and a 200-day moving average of $6.49.

Granite Ridge Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 7.07%. The ex-dividend date was Thursday, August 31st. Granite Ridge Resources’s dividend payout ratio is presently 48.35%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America started coverage on Granite Ridge Resources in a research note on Tuesday, November 7th. They set a “buy” rating and a $9.00 price objective on the stock. Stephens started coverage on shares of Granite Ridge Resources in a report on Tuesday, September 26th. They issued an “overweight” rating and a $8.00 price target for the company.

Institutional Investors Weigh In On Granite Ridge Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Hamilton Lane Advisors LLC increased its holdings in shares of Granite Ridge Resources by 122.2% in the 3rd quarter. Hamilton Lane Advisors LLC now owns 8,410,844 shares of the company’s stock worth $51,306,000 after acquiring an additional 4,625,595 shares during the period. Northwestern University bought a new stake in shares of Granite Ridge Resources during the third quarter valued at approximately $30,648,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Granite Ridge Resources during the third quarter worth approximately $9,368,000. BlackRock Inc. grew its holdings in Granite Ridge Resources by 636.7% in the 2nd quarter. BlackRock Inc. now owns 1,402,820 shares of the company’s stock worth $9,301,000 after buying an additional 1,212,392 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Granite Ridge Resources by 155.8% in the 2nd quarter. Geode Capital Management LLC now owns 392,018 shares of the company’s stock valued at $2,599,000 after acquiring an additional 238,793 shares during the period. 7.56% of the stock is currently owned by institutional investors.

About Granite Ridge Resources

Granite Ridge Resources, Inc is an infrastructure firm and operates as a non-operated oil and gas exploration and production company. The firm invests in a diversified portfolio of production and top-tier acreage across the Permian and four other prolific US basins in partnership with operators. Granite Ridge Resources, Inc is headquartered in Dallas, Texas.