Tyler Farquharson Buys 5,000 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNTGet Free Report) CFO Tyler Farquharson purchased 5,000 shares of the stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $6.20 per share, with a total value of $31,000.00. Following the completion of the acquisition, the chief financial officer now owns 68,037 shares in the company, valued at approximately $421,829.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Granite Ridge Resources Stock Up 1.2 %

Granite Ridge Resources stock opened at $6.29 on Wednesday. The stock’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $6.02. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. Granite Ridge Resources, Inc. has a twelve month low of $4.82 and a twelve month high of $8.14. The firm has a market capitalization of $819.87 million, a P/E ratio of 10.30 and a beta of 0.20.

Granite Ridge Resources (NYSE:GRNTGet Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Granite Ridge Resources had a return on equity of 16.35% and a net margin of 20.58%. The firm had revenue of $106.80 million for the quarter. During the same period in the prior year, the business earned $0.38 EPS. As a group, equities analysts expect that Granite Ridge Resources, Inc. will post 0.61 earnings per share for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 7.00%. The ex-dividend date was Thursday, February 29th. Granite Ridge Resources’s dividend payout ratio (DPR) is 72.13%.

Institutional Trading of Granite Ridge Resources

Several institutional investors and hedge funds have recently bought and sold shares of GRNT. Nisa Investment Advisors LLC lifted its stake in Granite Ridge Resources by 24,400.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,900 shares of the company’s stock worth $29,000 after acquiring an additional 4,880 shares in the last quarter. Barclays PLC raised its position in Granite Ridge Resources by 507.6% in the second quarter. Barclays PLC now owns 5,225 shares of the company’s stock worth $35,000 after purchasing an additional 4,365 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in Granite Ridge Resources during the fourth quarter worth about $40,000. Citigroup Inc. acquired a new stake in Granite Ridge Resources during the second quarter valued at approximately $51,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Granite Ridge Resources by 26.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,494 shares of the company’s stock worth $52,000 after buying an additional 1,760 shares in the last quarter. Institutional investors and hedge funds own 7.56% of the company’s stock.

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. The company is based in Dallas, Texas.

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