Granite Ridge Resources, Inc. $GRNT Stock Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers lifted its stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,652 shares of the company’s stock after acquiring an additional 7,062 shares during the quarter. Rhumbline Advisers owned 0.06% of Granite Ridge Resources worth $509,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GRNT. CWA Asset Management Group LLC lifted its holdings in shares of Granite Ridge Resources by 46.0% in the first quarter. CWA Asset Management Group LLC now owns 189,500 shares of the company’s stock valued at $1,152,000 after purchasing an additional 59,671 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Granite Ridge Resources by 222.4% in 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. Hamilton Lane Advisors LLC lifted its holdings in shares of Granite Ridge Resources by 15.5% in the first quarter. Hamilton Lane Advisors LLC now owns 8,480,587 shares of the company’s stock valued at $51,562,000 after purchasing an additional 1,139,430 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Granite Ridge Resources by 37.5% in the fourth quarter. Deutsche Bank AG now owns 33,212 shares of the company’s stock valued at $215,000 after purchasing an additional 9,055 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Granite Ridge Resources by 892.9% in 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. 31.56% of the stock is owned by institutional investors.

Granite Ridge Resources Trading Up 1.7%

Granite Ridge Resources stock opened at $5.54 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $726.47 million, a price-to-earnings ratio of 23.06, a PEG ratio of 0.78 and a beta of 0.35. Granite Ridge Resources, Inc. has a one year low of $4.52 and a one year high of $7.00. The company’s fifty day moving average price is $5.34 and its two-hundred day moving average price is $5.53.

Granite Ridge Resources (NYSE:GRNT) last posted its earnings results on Thursday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business 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, analysts forecast that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

Granite Ridge Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Friday, August 29th. Granite Ridge Resources’s dividend payout ratio is presently 183.33%.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Granite Ridge Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.50.

Insider Buying and Selling

In other Granite Ridge Resources news, Director John Mccartney bought 5,000 shares of the stock in a transaction on Monday, August 18th. The shares were purchased at an average cost of $5.25 per share, with a total value of $26,250.00. Following the completion of the transaction, the director directly owned 82,117 shares of the company’s stock, valued at $431,114.25. This represents a 6.48% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 14,574 shares of company stock worth $77,142 over the last 90 days. Corporate insiders own 8.50% 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.