Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) CEO Luke C. Brandenberg purchased 8,495 shares of the stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the acquisition, the chief executive officer now owns 109,128 shares of the company's stock, valued at approximately $665,680.80. This represents a 8.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Granite Ridge Resources Stock Up 0.2 %
GRNT stock opened at $6.14 on Friday. Granite Ridge Resources, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $7.10. The business's 50-day moving average is $6.25 and its two-hundred day moving average is $6.32. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $802.74 million, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.62 and a beta of 0.23.
Granite Ridge Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date of this dividend is Friday, November 29th. Granite Ridge Resources's dividend payout ratio is 122.23%.
Institutional Inflows and Outflows
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Institutional investors have recently bought and sold shares of the company. CWM LLC lifted its holdings in Granite Ridge Resources by 4,228.0% in the second quarter. CWM LLC now owns 10,214 shares of the company's stock valued at $65,000 after acquiring an additional 9,978 shares during the period. Ground Swell Capital LLC bought a new position in shares of Granite Ridge Resources in the third quarter worth about $66,000. nVerses Capital LLC bought a new position in shares of Granite Ridge Resources in the second quarter worth about $99,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Granite Ridge Resources by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company's stock worth $100,000 after buying an additional 2,709 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Granite Ridge Resources by 52.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company's stock worth $147,000 after buying an additional 7,965 shares during the period. Institutional investors own 31.56% of the company's stock.
Wall Street Analysts Forecast Growth
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.
Get Our Latest Stock 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.
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