nVerses Capital LLC bought a new position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,700 shares of the company’s stock, valued at approximately $99,000.
Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Granite Ridge Resources by 17.2% in the second quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock valued at $171,000 after buying an additional 3,980 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Granite Ridge Resources by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after acquiring an additional 2,709 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Granite Ridge Resources by 6.8% during 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 purchasing an additional 78,636 shares during the period. CWM LLC lifted its holdings in shares of Granite Ridge Resources by 4,228.0% during the second quarter. CWM LLC now owns 10,214 shares of the company’s stock valued at $65,000 after purchasing an additional 9,978 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Granite Ridge Resources by 57.9% during the first quarter. California State Teachers Retirement System now owns 57,133 shares of the company’s stock valued at $371,000 after purchasing an additional 20,944 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors.
Granite Ridge Resources Trading Down 4.0 %
Shares of NYSE GRNT opened at $6.10 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.25. Granite Ridge Resources, Inc. has a one year low of $5.20 and a one year high of $8.07. The business has a 50-day moving average price of $6.51 and a two-hundred day moving average price of $6.42. The firm has a market capitalization of $796.88 million, a PE ratio of 13.54, a PEG ratio of 1.54 and a beta of 0.20.
Granite Ridge Resources Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 7.22%. The ex-dividend date is Friday, August 30th. Granite Ridge Resources’s dividend payout ratio is currently 97.78%.
Insider Transactions at Granite Ridge Resources
In other news, CFO Tyler Farquharson acquired 5,000 shares of Granite Ridge Resources stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $6.62 per share, with a total value of $33,100.00. Following the completion of the transaction, the chief financial officer now owns 76,723 shares in the company, valued at $507,906.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Tyler Farquharson purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was acquired at an average price of $6.62 per share, with a total value of $33,100.00. Following the purchase, the chief financial officer now owns 76,723 shares in the company, valued at approximately $507,906.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thaddeus Darden acquired 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $5.90 per share, for a total transaction of $41,300.00. Following the transaction, the director now owns 221,156 shares of the company’s stock, valued at approximately $1,304,820.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 31,438 shares of company stock valued at $195,822. 1.90% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Roth Capital upgraded Granite Ridge Resources to a “strong-buy” rating in a report on Wednesday, May 15th. Bank of America restated a “neutral” rating and set a $7.00 price target on shares of Granite Ridge Resources in a report on Friday, June 14th. Finally, Roth Mkm initiated coverage on shares of Granite Ridge Resources in a research note on Wednesday, May 15th. They issued a “buy” rating and a $8.80 price objective for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.95.
View Our Latest Stock Report on Granite Ridge Resources
Granite Ridge Resources Profile
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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