Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Sold by Strs Ohio

Strs Ohio lessened its stake in Granite Ridge Resources, Inc. (NYSE:GRNT) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,300 shares of the company’s stock after selling 5,900 shares during the quarter. Strs Ohio owned approximately 0.07% of Granite Ridge Resources worth $531,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GRNT. Barclays PLC grew its position in shares of Granite Ridge Resources by 507.6% during the 2nd quarter. Barclays PLC now owns 5,225 shares of the company’s stock valued at $35,000 after buying an additional 4,365 shares during the last quarter. Northwestern University bought a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $30,648,000. Teacher Retirement System of Texas bought a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $260,000. Sfmg LLC grew its position in shares of Granite Ridge Resources by 1.8% during the 3rd quarter. Sfmg LLC now owns 184,454 shares of the company’s stock valued at $1,125,000 after buying an additional 3,277 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $421,000. Institutional investors and hedge funds own 31.56% of the company’s stock.

Granite Ridge Resources Price Performance

Shares of NYSE:GRNT opened at $6.63 on Friday. Granite Ridge Resources, Inc. has a fifty-two week low of $5.00 and a fifty-two week high of $8.14. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.16. The company has a market cap of $864.88 million, a PE ratio of 10.87 and a beta of 0.21. The firm has a 50-day simple moving average of $6.38 and a 200 day simple moving average of $6.08.

Granite Ridge Resources (NYSE:GRNT) last posted its earnings results on Thursday, March 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Granite Ridge Resources had a net margin of 20.58% and a return on equity of 16.35%. The firm had revenue of $106.80 million during the quarter. During the same quarter last year, the company posted $0.38 EPS. On average, sell-side analysts anticipate that Granite Ridge Resources, Inc. will post 0.64 EPS for the current year.

Granite Ridge Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Thursday, February 29th. Granite Ridge Resources’s dividend payout ratio (DPR) is 72.13%.

Insiders Place Their Bets

In other news, CFO Tyler Farquharson bought 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $31,000.00. Following the transaction, the chief financial officer now owns 68,037 shares in the company, valued at $421,829.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders bought 9,250 shares of company stock worth $57,190. Insiders own 1.40% of the company’s stock.

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.