Granite Ridge Resources, Inc. (NYSE:GRNT) CEO Luke C. Brandenberg Buys 5,000 Shares

Granite Ridge Resources, Inc. (NYSE:GRNT) CEO Luke C. Brandenberg acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $6.50 per share, with a total value of $32,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 96,633 shares of the company’s stock, valued at $628,114.50. The trade was a 5.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Granite Ridge Resources Stock Performance

GRNT opened at $6.60 on Tuesday. The firm has a market cap of $862.88 million, a P/E ratio of 18.33, a PEG ratio of 1.68 and a beta of 0.19. Granite Ridge Resources, Inc. has a 1-year low of $5.20 and a 1-year high of $7.10. The company has a 50 day simple moving average of $6.15 and a two-hundred day simple moving average of $6.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56.

Granite Ridge Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.11 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 6.67%. Granite Ridge Resources’s payout ratio is presently 122.23%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI dropped their price objective on shares of 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 Investors Weigh In On Granite Ridge Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Silvercrest Asset Management Group LLC grew its position in shares of Granite Ridge Resources by 32.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock worth $10,680,000 after purchasing an additional 406,500 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Granite Ridge Resources in the second quarter worth $802,000. CWA Asset Management Group LLC bought a new position in shares of Granite Ridge Resources during the 3rd quarter valued at about $711,000. American Century Companies Inc. raised its position in shares of Granite Ridge Resources by 35.8% during the 2nd quarter. American Century Companies Inc. now owns 1,357,179 shares of the company’s stock valued at $8,591,000 after buying an additional 357,705 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in shares of Granite Ridge Resources by 222.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 37,900 shares of the company’s stock valued at $246,000 after acquiring an additional 26,142 shares during the last quarter. 31.56% of the stock is owned by institutional investors.

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.