Key Points
- Granite Ridge Resources CFO Ronald Kyle Kettler bought 6,000 shares on May 27 at an average price of $5.08, a $30,480 purchase that increased his holdings by 4.87% to 129,276 shares.
- The company recently reported mixed quarterly results, with EPS of $0.02 missing expectations of $0.09, while revenue of $128.26 million slightly topped estimates.
- GRNT also declared a quarterly dividend of $0.11 per share, which implies a 9.1% annualized yield, even as analysts’ sentiment remains cautious with a consensus rating of “Reduce.”
Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) CFO Ronald Kyle Kettler purchased 6,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $5.08 per share, for a total transaction of $30,480.00. Following the completion of the transaction, the chief financial officer owned 129,276 shares in the company, valued at approximately $656,722.08. This trade represents a 4.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Ronald Kyle Kettler also recently made the following trade(s):
- On Friday, March 13th, Ronald Kyle Kettler purchased 3,000 shares of Granite Ridge Resources stock. The stock was acquired at an average cost of $5.17 per share, for a total transaction of $15,510.00.
- On Tuesday, March 10th, Ronald Kyle Kettler purchased 5,000 shares of Granite Ridge Resources stock. The stock was acquired at an average cost of $5.18 per share, for a total transaction of $25,900.00.
Granite Ridge Resources Stock Performance
Shares of NYSE GRNT opened at $4.86 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The business's 50 day moving average is $5.52 and its two-hundred day moving average is $5.15. The company has a market cap of $640.51 million, a P/E ratio of -19.42 and a beta of 0.26. Granite Ridge Resources, Inc. has a 12 month low of $4.18 and a 12 month high of $6.72.
Granite Ridge Resources (NYSE:GRNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $128.26 million during the quarter, compared to the consensus estimate of $126.68 million. Granite Ridge Resources had a positive return on equity of 4.99% and a negative net margin of 7.13%. On average, equities analysts expect that Granite Ridge Resources, Inc. will post 0.53 EPS for the current year.
Granite Ridge Resources Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Friday, May 29th. Granite Ridge Resources's payout ratio is currently -176.00%.
Wall Street Analysts Forecast Growth
GRNT has been the topic of several recent research reports. Weiss Ratings lowered Granite Ridge Resources from a "hold (c)" rating to a "sell (d+)" rating in a report on Friday, May 22nd. Stephens decreased their price objective on Granite Ridge Resources from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, Zacks Research lowered Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a report on Monday, May 25th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Granite Ridge Resources currently has a consensus rating of "Reduce" and a consensus target price of $11.00.
Read Our Latest Stock Report on GRNT
Institutional Trading of Granite Ridge Resources
Institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its holdings 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 grew its holdings in shares of Granite Ridge Resources by 2,398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,721 shares of the company's stock worth $36,000 after purchasing an additional 5,492 shares in the last quarter. First Horizon Corp acquired a new stake in Granite Ridge Resources in the 4th quarter valued at $35,000. Tower Research Capital LLC TRC boosted its stake in Granite Ridge Resources by 103.0% in the 2nd 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, Private Advisor Group LLC acquired a new stake in Granite Ridge Resources in the 1st quarter valued at $59,000. Institutional investors and hedge funds own 31.56% of the company's stock.
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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