Key Points
- Director John McCartney bought 4,000 shares on Nov. 17 at $5.18, bringing his total to 95,091 shares (a 4.39% increase) after multiple recent purchases on Nov. 13, Nov. 11 and Aug. 21.
- The company declared a quarterly dividend of $0.11 per share (annualized $0.44) with an 8.5% yield, ex‑dividend/record date on Nov. 28 and a payout date of Dec. 15, though the payout ratio is a high 157.14%.
- GRNT trades near $5.17 with a market cap of about $678 million, a P/E of 18.45 and a 52‑week range of $4.52–$7.00; analysts have a consensus "Hold" rating and $8.00 price target.
Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director John Mccartney acquired 4,000 shares of the firm's stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $5.18 per share, with a total value of $20,720.00. Following the acquisition, the director owned 95,091 shares in the company, valued at approximately $492,571.38. This trade represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
John Mccartney also recently made the following trade(s):
- On Thursday, November 13th, John Mccartney purchased 4,000 shares of Granite Ridge Resources stock. The stock was acquired at an average cost of $5.17 per share, with a total value of $20,680.00.
- On Tuesday, November 11th, John Mccartney purchased 4,000 shares of Granite Ridge Resources stock. The stock was acquired 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 acquired at an average cost of $5.30 per share, with a total value of $5,162.20.
Granite Ridge Resources Stock Up 0.9%
NYSE:GRNT opened at $5.17 on Wednesday. Granite Ridge Resources, Inc. has a 52 week low of $4.52 and a 52 week high of $7.00. The stock's fifty day moving average is $5.36 and its two-hundred day moving average is $5.52. The stock has a market capitalization of $677.91 million, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.99 and a beta of 0.34. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its quarterly earnings data on Monday, September 11th. The company reported $0.61 EPS for the quarter. Granite Ridge Resources had a return on equity of 12.12% and a net margin of 8.38%.The business had revenue of $150.27 million during the quarter. Research analysts anticipate that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.
Granite Ridge Resources Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.5%. Granite Ridge Resources's dividend payout ratio is 157.14%.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Granite Ridge Resources in a research report on Friday, October 31st. Zacks Research cut Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 22nd. One research 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. Based on data from MarketBeat.com, Granite Ridge Resources has a consensus rating of "Hold" and a consensus price target of $8.00.
Read Our Latest Stock Analysis on GRNT
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd raised its position in shares of Granite Ridge Resources by 6.0% during the 2nd quarter. XTX Topco Ltd now owns 36,850 shares of the company's stock worth $235,000 after buying an additional 2,095 shares in the last quarter. Invesco Ltd. raised its holdings in Granite Ridge Resources by 3.1% in the 1st quarter. Invesco Ltd. now owns 78,212 shares of the company's stock worth $476,000 after acquiring an additional 2,344 shares during the period. Sherbrooke Park Advisers LLC lifted its position in Granite Ridge Resources by 12.9% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 20,573 shares of the company's stock worth $111,000 after acquiring an additional 2,357 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Granite Ridge Resources by 13.3% during the second quarter. The Manufacturers Life Insurance Company now owns 23,883 shares of the company's stock valued at $152,000 after acquiring an additional 2,798 shares during the period. Finally, SummerHaven Investment Management LLC grew its position in shares of Granite Ridge Resources by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 122,994 shares of the company's stock valued at $783,000 after purchasing an additional 2,950 shares during the last quarter. 31.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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