Key Points
- Director John McCartney bought 5,000 shares on Dec. 8 at $5.26 ($26,300) and now holds 113,117 shares, a 4.62% increase in his stake.
- McCartney has been accumulating stock since mid-November — about 22,026 shares across multiple trades (Nov. 11–Dec. 8) for roughly $116,000 in total, signaling ongoing insider buying.
- Granite Ridge declared a $0.11 quarterly dividend (annualized $0.44) for an 8.3% yield
Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director John Mccartney acquired 5,000 shares of the firm's stock in a transaction dated Monday, December 8th. The stock was bought at an average cost of $5.26 per share, with a total value of $26,300.00. Following the acquisition, the director owned 113,117 shares in the company, valued at approximately $594,995.42. This trade represents a 4.62% 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 Friday, December 5th, John Mccartney purchased 4,000 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.41 per share, with a total value of $21,640.00.
- On Monday, December 1st, John Mccartney acquired 1,026 shares of Granite Ridge Resources stock. The stock was bought at an average price of $5.23 per share, for a total transaction of $5,365.98.
- On Monday, November 17th, John Mccartney acquired 4,000 shares of Granite Ridge Resources stock. The shares were purchased at an average cost of $5.18 per share, for a total transaction of $20,720.00.
- On Thursday, November 13th, John Mccartney bought 4,000 shares of Granite Ridge Resources stock. The stock was purchased at an average price 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 shares were purchased at an average price of $5.26 per share, for a total transaction of $21,040.00.
Granite Ridge Resources Trading Up 3.2%
Shares of Granite Ridge Resources stock opened at $5.32 on Wednesday. The firm has a 50-day simple moving average of $5.26 and a two-hundred day simple moving average of $5.50. 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, Inc. has a fifty-two week low of $4.52 and a fifty-two week high of $7.00. The company has a market cap of $697.59 million, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.05 and a beta of 0.34.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last posted 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. As a group, equities analysts predict that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.
Granite Ridge Resources Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a $0.11 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.44 annualized dividend and a dividend yield of 8.3%. Granite Ridge Resources's dividend payout ratio (DPR) is 157.14%.
Hedge Funds Weigh In On Granite Ridge Resources
A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its stake in Granite Ridge Resources by 9.4% during the first quarter. American Century Companies Inc. now owns 2,249,990 shares of the company's stock worth $13,680,000 after buying an additional 193,912 shares during the last quarter. Sfmg LLC raised its holdings in shares of Granite Ridge Resources by 28.1% during the 2nd quarter. Sfmg LLC now owns 310,606 shares of the company's stock worth $1,979,000 after acquiring an additional 68,112 shares during the period. Nuveen LLC acquired a new position in shares of Granite Ridge Resources during the 1st quarter valued at about $5,860,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Granite Ridge Resources in the second quarter valued at about $659,000. Finally, Strs Ohio acquired a new stake in Granite Ridge Resources during the first quarter worth about $517,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on GRNT shares. Zacks Research downgraded shares of Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Granite Ridge Resources in a research note on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $8.00.
Check Out Our Latest Research Report on GRNT
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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