Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) CEO Luke C. Brandenberg bought 2,500 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were purchased at an average cost of $6.57 per share, for a total transaction of $16,425.00. Following the completion of the purchase, the chief executive officer now owns 99,133 shares in the company, valued at approximately $651,303.81. This trade represents a 2.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Granite Ridge Resources Stock Up 0.5 %
GRNT stock opened at $6.56 on Thursday. The company has a 50 day moving average of $6.21 and a two-hundred day moving average of $6.33. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Granite Ridge Resources, Inc. has a 12-month low of $5.20 and a 12-month high of $7.10. The company has a market cap of $857.00 million, a price-to-earnings ratio of 18.21, a PEG ratio of 1.76 and a beta of 0.19.
Granite Ridge Resources Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 6.71%. Granite Ridge Resources's payout ratio is 122.23%.
Institutional Inflows and Outflows
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Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Granite Ridge Resources by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 1,683,523 shares of the company's stock valued at $10,943,000 after buying an additional 47,182 shares during the last quarter. American Century Companies Inc. lifted its stake in Granite Ridge Resources by 35.8% in the second quarter. American Century Companies Inc. now owns 1,357,179 shares of the company's stock valued at $8,591,000 after acquiring an additional 357,705 shares during the last quarter. Bank of New York Mellon Corp grew its position in Granite Ridge Resources by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 1,233,733 shares of the company's stock worth $7,810,000 after acquiring an additional 78,636 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Granite Ridge Resources by 35.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company's stock worth $7,258,000 after purchasing an additional 317,303 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Granite Ridge Resources by 72.6% during the 2nd quarter. AQR Capital Management LLC now owns 936,201 shares of the company's stock valued at $5,926,000 after purchasing an additional 393,787 shares in the last quarter. Hedge funds and other institutional investors own 31.56% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Evercore ISI lowered their price target on Granite Ridge Resources from $8.00 to $7.00 and set an "in-line" rating on the stock in a report on Monday, September 30th.
View Our Latest Research Report on Granite Ridge Resources
Granite Ridge Resources Company Profile
(
Get Free Report)
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.
Further Reading
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