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

Granite Ridge Resources, Inc. (NYSE:GRNTGet Free Report) 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.

Check Out Our Latest Stock Report on GRNT

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

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Granite Ridge Resources (NYSE:GRNT)

Receive News & Ratings for Granite Ridge Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Ridge Resources and related companies with's FREE daily email newsletter.