Granite Ridge Resources, Inc. (NYSE:GRNT) Director Thaddeus Darden Acquires 3,000 Shares of Stock

Granite Ridge Resources, Inc. (NYSE:GRNTGet Free Report) Director Thaddeus Darden bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average price of $6.29 per share, for a total transaction of $18,870.00. Following the completion of the acquisition, the director now owns 214,156 shares in the company, valued at approximately $1,347,041.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Granite Ridge Resources Stock Performance

Shares of GRNT opened at $6.17 on Friday. The firm has a market cap of $806.67 million, a price-to-earnings ratio of 13.71 and a beta of 0.20. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $6.55 and its two-hundred day moving average is $6.15. Granite Ridge Resources, Inc. has a 52-week low of $5.20 and a 52-week high of $8.14.

Granite Ridge Resources (NYSE:GRNTGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $89.00 million during the quarter. Granite Ridge Resources had a return on equity of 14.35% and a net margin of 15.43%. Analysts forecast that Granite Ridge Resources, Inc. will post 0.6 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 7.13%. The ex-dividend date of this dividend is Friday, May 31st. Granite Ridge Resources’s payout ratio is currently 97.78%.

Wall Street Analyst Weigh In

GRNT has been the subject of several recent research reports. Evercore ISI began coverage on shares of Granite Ridge Resources in a research report on Monday, April 29th. They issued an “in-line” rating and a $8.00 price objective for the company. Roth Mkm began coverage on shares of Granite Ridge Resources in a report on Wednesday, May 15th. They set a “buy” rating and a $8.80 price target for the company. Finally, Roth Capital upgraded shares of Granite Ridge Resources to a “strong-buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.45.

View Our Latest Research Report on Granite Ridge Resources

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRNT. Howard Financial Services LTD. lifted its position in shares of Granite Ridge Resources by 3.8% in the 4th quarter. Howard Financial Services LTD. now owns 52,621 shares of the company’s stock worth $317,000 after buying an additional 1,917 shares during the last quarter. Barclays PLC lifted its holdings in Granite Ridge Resources by 86.7% in the third quarter. Barclays PLC now owns 9,754 shares of the company’s stock worth $59,000 after acquiring an additional 4,529 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Granite Ridge Resources by 24,400.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,900 shares of the company’s stock valued at $29,000 after acquiring an additional 4,880 shares during the period. Swiss National Bank grew its holdings in shares of Granite Ridge Resources by 11.6% during the fourth quarter. Swiss National Bank now owns 66,500 shares of the company’s stock valued at $400,000 after purchasing an additional 6,900 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Granite Ridge Resources by 14.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,615 shares of the company’s stock worth $374,000 after purchasing an additional 7,304 shares during the period. Institutional investors own 31.56% 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. Granite Ridge Resources, Inc is based in Dallas, Texas.

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Insider Buying and Selling by Quarter for Granite Ridge Resources (NYSE:GRNT)

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