UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 3,272 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,135 shares of the company’s stock after purchasing an additional 3,272 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Granite Ridge Resources were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP grew its holdings in Granite Ridge Resources by 67.0% during the fourth quarter. Two Sigma Advisers LP now owns 143,800 shares of the company’s stock valued at $929,000 after purchasing an additional 57,700 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Granite Ridge Resources during the fourth quarter valued at $2,251,000. ProShare Advisors LLC bought a new position in Granite Ridge Resources during the fourth quarter valued at $96,000. Millennium Management LLC grew its holdings in Granite Ridge Resources by 4,637.3% during the fourth quarter. Millennium Management LLC now owns 481,641 shares of the company’s stock valued at $3,111,000 after purchasing an additional 471,474 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Granite Ridge Resources by 28.8% during the fourth quarter. Janus Henderson Group PLC now owns 98,620 shares of the company’s stock valued at $637,000 after purchasing an additional 22,071 shares during the period. 31.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Granite Ridge Resources news, CEO Luke C. Brandenberg acquired 6,100 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average price of $5.80 per share, for a total transaction of $35,380.00. Following the completion of the transaction, the chief executive officer now owns 157,267 shares of the company’s stock, valued at approximately $912,148.60. This represents a 4.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have acquired 29,914 shares of company stock worth $168,331. Corporate insiders own 8.50% of the company’s stock.

Granite Ridge Resources Trading Up 3.1%

NYSE:GRNT opened at $6.10 on Thursday. The company has a market cap of $799.27 million, a P/E ratio of 16.93, a P/E/G ratio of 1.29 and a beta of 0.31. The stock’s fifty day moving average price is $5.28 and its two-hundred day moving average price is $5.87. Granite Ridge Resources, Inc. has a 1 year low of $4.52 and a 1 year high of $7.10. 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 (NYSE:GRNT) last posted its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Granite Ridge Resources had a return on equity of 11.58% and a net margin of 12.59%. The firm had revenue of $122.93 million for the quarter, compared to the consensus estimate of $115.30 million. As a group, analysts expect that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.

Granite Ridge Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.22%. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 488.89%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Granite Ridge Resources from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Stephens restated an “overweight” rating and set a $8.00 target price on shares of Granite Ridge Resources in a research report on Friday, March 7th. Finally, Capital One Financial downgraded Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.33.

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.