Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Acquires $32,750.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $6.55 per share, with a total value of $32,750.00. Following the completion of the transaction, the chief financial officer now owns 86,723 shares of the company’s stock, valued at $568,035.65. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tyler Farquharson also recently made the following trade(s):

• On Wednesday, September 11th, Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.95 per share, with a total value of $29,750.00.
• On Monday, August 19th, Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock. The shares were bought at an average price of $6.62 per share, with a total value of $33,100.00.

Granite Ridge Resources Stock Down 0.9 %

Shares of GRNT opened at $6.53 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. Granite Ridge Resources, Inc. has a 12 month low of $5.20 and a 12 month high of $7.10. The stock’s 50 day moving average is $6.12 and its two-hundred day moving average is $6.33. The firm has a market cap of $853.73 million, a P/E ratio of 18.14, a PEG ratio of 1.73 and a beta of 0.19.

Granite Ridge Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 6.74%. The ex-dividend date of this dividend is Friday, November 29th. Granite Ridge Resources’s payout ratio is currently 122.23%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI dropped their price objective on Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating on the stock in a report on Monday, September 30th.

Institutional Trading of Granite Ridge Resources

Several institutional investors have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Granite Ridge Resources by 4,228.0% in the second quarter. CWM LLC now owns 10,214 shares of the company’s stock worth $65,000 after acquiring an additional 9,978 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Granite Ridge Resources in the third quarter worth approximately $66,000. nVerses Capital LLC acquired a new stake in shares of Granite Ridge Resources in the second quarter worth approximately $99,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Granite Ridge Resources by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after acquiring an additional 2,709 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Granite Ridge Resources by 52.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock worth $147,000 after acquiring an additional 7,965 shares during the last quarter. 31.56% of the stock is owned by institutional investors and hedge funds.

Granite Ridge Resources Company Profile

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.