Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) CFO Ronald Kyle Kettler purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $5.17 per share, with a total value of $15,510.00. Following the completion of the purchase, the chief financial officer owned 123,276 shares of the company's stock, valued at $637,336.92. This represents a 2.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Ronald Kyle Kettler also recently made the following trade(s):
- On Tuesday, March 10th, Ronald Kyle Kettler acquired 5,000 shares of Granite Ridge Resources stock. The stock was bought at an average price of $5.18 per share, with a total value of $25,900.00.
Granite Ridge Resources Stock Performance
Granite Ridge Resources stock opened at $5.27 on Tuesday. Granite Ridge Resources, Inc. has a fifty-two week low of $4.18 and a fifty-two week high of $6.72. The stock's 50 day simple moving average is $4.90 and its two-hundred day simple moving average is $5.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $692.14 million, a price-to-earnings ratio of 29.25, a PEG ratio of 3.26 and a beta of 0.34.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). The firm had revenue of $105.49 million during the quarter, compared to the consensus estimate of $120.76 million. Granite Ridge Resources had a return on equity of 8.91% and a net margin of 5.41%. As a group, analysts expect that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.
Granite Ridge Resources Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.11 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.44 dividend on an annualized basis and a yield of 8.4%. Granite Ridge Resources's dividend payout ratio is 244.44%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRNT. Bank of America Corp DE boosted its holdings in Granite Ridge Resources by 5,859.1% in the second quarter. Bank of America Corp DE now owns 4,525,525 shares of the company's stock worth $28,828,000 after purchasing an additional 4,449,582 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Granite Ridge Resources by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,472,643 shares of the company's stock valued at $24,197,000 after buying an additional 282,132 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Granite Ridge Resources by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,858,933 shares of the company's stock worth $13,438,000 after buying an additional 276,567 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Granite Ridge Resources by 12.9% in the 3rd quarter. American Century Companies Inc. now owns 2,661,098 shares of the company's stock worth $14,397,000 after buying an additional 303,059 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Granite Ridge Resources by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,477,157 shares of the company's stock worth $6,944,000 after acquiring an additional 95,810 shares during the period. Institutional investors own 31.56% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Granite Ridge Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, January 26th. Zacks Research upgraded Granite Ridge Resources from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".
Get Our Latest Stock Analysis 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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