Key Points
- Director Matthew Reade Miller bought 9,388 shares of Granite Ridge Resources at an average price of $5.33 on Dec. 4, increasing his stake to 1,297,518 shares (a 0.73% rise) in a transaction valued at $50,038.04.
- The company declared a quarterly dividend of $0.11 per share (paid Dec. 15; ex-dividend Nov. 28), equal to a $0.44 annualized payout and an 8.1% yield while the payout ratio stands at 157.14%.
- Granite Ridge Resources has a market cap of about $710.7 million, a consensus analyst rating of Hold with an average price target of $8.00, and a 12‑month trading range of $4.52 to $7.00.
Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director Matthew Reade Miller acquired 9,388 shares of the firm's stock in a transaction that occurred on Thursday, December 4th. The stock was acquired at an average price of $5.33 per share, with a total value of $50,038.04. Following the completion of the transaction, the director directly owned 1,297,518 shares in the company, valued at $6,915,770.94. This trade represents a 0.73% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Matthew Reade Miller also recently made the following trade(s):
- On Monday, September 15th, Matthew Reade Miller bought 600 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.35 per share, for a total transaction of $3,210.00.
Granite Ridge Resources Stock Performance
Shares of GRNT opened at $5.42 on Friday. The firm has a market cap of $710.72 million, a P/E ratio of 19.34, a PEG ratio of 2.12 and a beta of 0.34. Granite Ridge Resources, Inc. has a twelve month low of $4.52 and a twelve month 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. The firm's 50 day moving average price is $5.27 and its two-hundred day moving average price is $5.50.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last issued its quarterly earnings data on Monday, September 11th. The company reported $0.61 earnings per share (EPS) for the quarter. Granite Ridge Resources had a net margin of 8.38% and a return on equity of 12.12%. The company had revenue of $150.27 million during the quarter. On average, analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.
Granite Ridge Resources Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.44 annualized dividend and a dividend yield of 8.1%. Granite Ridge Resources's dividend payout ratio (DPR) is currently 157.14%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Granite Ridge Resources in a report on Friday, October 31st. Zacks Research lowered Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.00.
Read Our Latest Research Report on GRNT
Institutional Trading of Granite Ridge Resources
Several institutional investors and hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in Granite Ridge Resources in the third quarter valued at approximately $26,000. Osaic Holdings Inc. raised its stake in shares of Granite Ridge Resources by 264.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,506 shares of the company's stock worth $35,000 after purchasing an additional 3,994 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Granite Ridge Resources by 2,398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,721 shares of the company's stock valued at $36,000 after buying an additional 5,492 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Granite Ridge Resources by 103.0% in the second quarter. Tower Research Capital LLC TRC now owns 9,133 shares of the company's stock valued at $58,000 after buying an additional 4,635 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Granite Ridge Resources in the first quarter valued at $62,000. 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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