XTX Topco Ltd Purchases Shares of 23,258 Granite Ridge Resources, Inc. (NYSE:GRNT)

XTX Topco Ltd bought a new stake in Granite Ridge Resources, Inc. (NYSE:GRNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,258 shares of the company’s stock, valued at approximately $150,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Barclays PLC increased its position in shares of Granite Ridge Resources by 306.9% in the third quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after acquiring an additional 61,162 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Granite Ridge Resources by 35.1% in the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock valued at $7,258,000 after acquiring an additional 317,303 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Granite Ridge Resources in the fourth quarter valued at about $870,000. Grey Rock Energy Management LLC bought a new position in Granite Ridge Resources during the fourth quarter worth about $357,018,000. Finally, Spider Management Company LLC increased its position in Granite Ridge Resources by 21.4% during the fourth quarter. Spider Management Company LLC now owns 4,951,533 shares of the company’s stock worth $31,987,000 after buying an additional 872,282 shares during the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.

Granite Ridge Resources Stock Up 1.2 %

GRNT stock opened at $5.00 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $655.68 million, a price-to-earnings ratio of 13.89, a PEG ratio of 1.29 and a beta of 0.20. The business’s fifty day moving average price is $5.51 and its two-hundred day moving average price is $6.03. Granite Ridge Resources, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $7.10.

Granite Ridge Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 8.80%. The ex-dividend date of this dividend was Friday, February 28th. Granite Ridge Resources’s payout ratio is 314.29%.

Analysts Set New Price Targets

Several brokerages have recently commented on GRNT. Stephens reiterated an “overweight” rating and set a $8.00 target price on shares of Granite Ridge Resources in a research note on Friday, March 7th. Capital One Financial downgraded Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.70.

About Granite Ridge Resources

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.