15,700 Shares in Granite Ridge Resources, Inc. (NYSE:GRNT) Acquired by nVerses Capital LLC

nVerses Capital LLC bought a new position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) 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 (NYSE:GRNT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 company had revenue of $90.65 million for the quarter, compared to analyst estimates of $96.97 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, analysts predict that Granite Ridge Resources, Inc. will post 0.59 earnings per share for the current fiscal year.

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.

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.