SG Americas Securities LLC Purchases 16,037 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

SG Americas Securities LLC lifted its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 155.7% in the third quarter, HoldingsChannel.com reports. The fund owned 26,335 shares of the company’s stock after buying an additional 16,037 shares during the period. SG Americas Securities LLC’s holdings in Granite Ridge Resources were worth $156,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Silvercrest Asset Management Group LLC raised its position in Granite Ridge Resources by 32.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock valued at $10,680,000 after purchasing an additional 406,500 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Granite Ridge Resources in the 2nd quarter valued at $802,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Granite Ridge Resources during the 1st quarter worth $186,000. Jupiter Asset Management Ltd. lifted its position in shares of Granite Ridge Resources by 222.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 37,900 shares of the company’s stock worth $246,000 after buying an additional 26,142 shares during the last quarter. Finally, American Century Companies Inc. boosted 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 buying an additional 357,705 shares in the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.

Granite Ridge Resources Stock Performance

NYSE GRNT opened at $5.95 on Friday. The firm’s fifty day moving average price is $6.18 and its two-hundred day moving average price is $6.38. The stock has a market cap of $777.93 million, a PE ratio of 13.22, a PEG ratio of 1.61 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.24 and a current ratio of 2.24. Granite Ridge Resources, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $7.10.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Granite Ridge Resources had a return on equity of 13.01% and a net margin of 14.39%. The firm had revenue of $90.65 million for the quarter, compared to the consensus estimate of $96.97 million. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, equities analysts expect that Granite Ridge Resources, Inc. will post 0.55 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.39%. The ex-dividend date of this dividend was Friday, August 30th. Granite Ridge Resources’s dividend payout ratio is currently 97.78%.

Insider Activity at Granite Ridge Resources

In other Granite Ridge Resources news, CEO Luke C. Brandenberg bought 5,000 shares of Granite Ridge Resources stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $6.23 per share, with a total value of $31,150.00. Following the acquisition, the chief executive officer now directly owns 91,633 shares of the company’s stock, valued at $570,873.59. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Matthew Reade Miller acquired 8,500 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $5.97 per share, for a total transaction of $50,745.00. Following the completion of the transaction, the director now directly owns 692,496 shares of the company’s stock, valued at $4,134,201.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Luke C. Brandenberg acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $6.23 per share, for a total transaction of $31,150.00. Following the completion of the purchase, the chief executive officer now owns 91,633 shares of the company’s stock, valued at $570,873.59. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 30,433 shares of company stock worth $189,581 in the last quarter. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Evercore ISI lowered their target price on Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Monday, September 30th.

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.