Key Points
- Director John McCartney bought 4,000 shares on Nov. 13 at $5.17 and, after multiple recent purchases, now directly owns 91,091 shares of Granite Ridge Resources.
- The company declared a quarterly dividend of $0.11 per share (annualized $0.44), implying a 8.6% yield while carrying a high dividend payout ratio of 157.14%.
- Granite Ridge reported quarterly EPS $0.61 on $150.27M revenue, has a market cap of about $672.7M, and carries an average analyst rating of "Hold" with a $8.00 target.
Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director John Mccartney purchased 4,000 shares of the firm's stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $5.17 per share, with a total value of $20,680.00. Following the transaction, the director directly owned 91,091 shares of the company's stock, valued at approximately $470,940.47. This represents a 4.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
John Mccartney also recently made the following trade(s):
- On Tuesday, November 11th, John Mccartney purchased 4,000 shares of Granite Ridge Resources stock. The stock was bought at an average cost of $5.26 per share, for a total transaction of $21,040.00.
- On Thursday, August 21st, John Mccartney acquired 974 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.30 per share, for a total transaction of $5,162.20.
Granite Ridge Resources Price Performance
GRNT opened at $5.13 on Tuesday. The company has a 50-day moving average of $5.36 and a 200-day moving average of $5.52. The company has a market capitalization of $672.66 million, a P/E ratio of 18.30, a PEG ratio of 2.01 and a beta of 0.34. Granite Ridge Resources, Inc. has a 1-year low of $4.52 and a 1-year high of $7.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.41 and a current ratio of 1.41.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last issued its quarterly earnings results on Monday, September 11th. The company reported $0.61 EPS for the quarter. The business had revenue of $150.27 million for the quarter. Granite Ridge Resources had a net margin of 8.38% and a return on equity of 12.12%. Equities analysts expect that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.
Granite Ridge Resources Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend is Friday, November 28th. Granite Ridge Resources's dividend payout ratio (DPR) is currently 157.14%.
Institutional Trading of Granite Ridge Resources
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its position in Granite Ridge Resources by 25.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,827 shares of the company's stock valued at $3,537,000 after purchasing an additional 131,539 shares during the period. Virtus Advisers LLC bought a new stake in Granite Ridge Resources in the third quarter valued at $295,000. Sherbrooke Park Advisers LLC lifted its stake in Granite Ridge Resources by 12.9% in the third quarter. Sherbrooke Park Advisers LLC now owns 20,573 shares of the company's stock valued at $111,000 after buying an additional 2,357 shares during the last quarter. Prelude Capital Management LLC boosted its holdings in shares of Granite Ridge Resources by 78.2% during the third quarter. Prelude Capital Management LLC now owns 19,600 shares of the company's stock valued at $106,000 after acquiring an additional 8,600 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Granite Ridge Resources by 59.4% during the third quarter. Public Employees Retirement System of Ohio now owns 66,800 shares of the company's stock worth $361,000 after acquiring an additional 24,900 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Granite Ridge Resources in a report on Friday, October 31st. Zacks Research lowered shares of Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.00.
Read Our Latest Report on GRNT
About Granite Ridge Resources
(
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.
Further Reading
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