John Mccartney Acquires 4,000 Shares of Granite Ridge Resources (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director John Mccartney purchased 4,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of $5.54 per share, with a total value of $22,160.00. Following the completion of the acquisition, the director directly owned 143,143 shares of the company’s stock, valued at $793,012.22. This trade represents a 2.87% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

John Mccartney also recently made the following trade(s):

• On Thursday, March 12th, John Mccartney purchased 5,000 shares of Granite Ridge Resources stock. The stock was bought at an average cost of $5.16 per share, with a total value of $25,800.00.
• On Wednesday, March 11th, John Mccartney purchased 2,000 shares of Granite Ridge Resources stock. The stock was bought at an average cost of $5.12 per share, with a total value of $10,240.00.

Granite Ridge Resources Trading Up 0.5%

Shares of NYSE:GRNT opened at $5.53 on Friday. Granite Ridge Resources, Inc. has a 12-month low of $4.18 and a 12-month high of $6.72. The company has a market capitalization of $729.14 million, a PE ratio of -22.11 and a beta of 0.26. The business has a 50 day moving average of $5.54 and a two-hundred day moving average of $5.16. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73.

Granite Ridge Resources (NYSE:GRNT) last announced its earnings results on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The business had revenue of $128.26 million for the quarter, compared to analyst estimates of $126.68 million. Granite Ridge Resources had a positive return on equity of 4.99% and a negative net margin of 7.13%. As a group, analysts forecast that Granite Ridge Resources, Inc. will post 0.53 EPS for the current year.

Granite Ridge Resources Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, May 29th. Granite Ridge Resources’s dividend payout ratio is presently -176.00%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GRNT. Weiss Ratings downgraded Granite Ridge Resources from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Zacks Research raised Granite Ridge Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Stephens reduced their target price on Granite Ridge Resources from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Granite Ridge Resources presently has a consensus rating of “Hold” and an average price target of $11.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE raised its stake in Granite Ridge Resources by 5,859.1% in the 2nd quarter. Bank of America Corp DE now owns 4,525,525 shares of the company’s stock valued at $28,828,000 after purchasing an additional 4,449,582 shares during the last quarter. Vanguard Group Inc. raised its stake in Granite Ridge Resources by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,472,643 shares of the company’s stock valued at $24,197,000 after purchasing an additional 282,132 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Granite Ridge Resources by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,306,999 shares of the company’s stock valued at $19,414,000 after purchasing an additional 448,066 shares during the last quarter. American Century Companies Inc. raised its stake in 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 valued at $14,397,000 after purchasing an additional 303,059 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Granite Ridge Resources by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 1,477,157 shares of the company’s stock valued at $6,944,000 after purchasing an additional 95,810 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.