American Century Companies Inc. Has $13.68 Million Stock Position in Granite Ridge Resources, Inc. $GRNT

American Century Companies Inc. raised its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,249,990 shares of the company’s stock after purchasing an additional 193,912 shares during the period. American Century Companies Inc. owned approximately 1.72% of Granite Ridge Resources worth $13,680,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GRNT. GAMMA Investing LLC raised its position in Granite Ridge Resources by 892.9% during the first quarter. GAMMA Investing LLC now owns 7,089 shares of the company’s stock valued at $43,000 after purchasing an additional 6,375 shares in the last quarter. Parallel Advisors LLC raised its position in Granite Ridge Resources by 222.4% during the first quarter. Parallel Advisors LLC now owns 8,722 shares of the company’s stock valued at $53,000 after purchasing an additional 6,017 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $62,000. One68 Global Capital LLC acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $71,000. Finally, ProShare Advisors LLC bought a new stake in shares of Granite Ridge Resources during the 4th quarter valued at approximately $96,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Granite Ridge Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Insider Transactions at Granite Ridge Resources

In related news, CEO Luke C. Brandenberg acquired 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average cost of $5.80 per share, for a total transaction of $35,380.00. Following the completion of the acquisition, the chief executive officer directly owned 157,267 shares of the company’s stock, valued at approximately $912,148.60. This trade represents a 4.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Mccartney acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of $5.25 per share, with a total value of $26,250.00. Following the completion of the acquisition, the director directly owned 82,117 shares of the company’s stock, valued at $431,114.25. This trade represents a 6.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 41,618 shares of company stock worth $237,105. Corporate insiders own 8.50% of the company’s stock.

Granite Ridge Resources Stock Down 0.3%

Shares of NYSE:GRNT opened at $5.7130 on Tuesday. The company has a fifty day moving average of $5.63 and a 200-day moving average of $5.60. The company has a market capitalization of $749.83 million, a PE ratio of 23.81, a price-to-earnings-growth ratio of 0.79 and a beta of 0.34. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.32 and a current ratio of 1.32. Granite Ridge Resources, Inc. has a 52-week low of $4.52 and a 52-week high of $7.00.

Granite Ridge Resources (NYSE:GRNT) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $109.22 million for the quarter, compared to analyst estimates of $109.69 million. Granite Ridge Resources had a return on equity of 13.09% and a net margin of 7.47%. On average, equities analysts predict that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, August 29th. This represents a $0.44 annualized dividend and a dividend yield of 7.7%. Granite Ridge Resources’s dividend payout ratio is 183.33%.

About Granite Ridge Resources

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.