American Century Companies Inc. Purchases 303,059 Shares of Granite Ridge Resources, Inc. $GRNT

American Century Companies Inc. increased its holdings in Granite Ridge Resources, Inc. (NYSE:GRNT) by 12.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,661,098 shares of the company’s stock after acquiring an additional 303,059 shares during the quarter. American Century Companies Inc. owned approximately 2.03% of Granite Ridge Resources worth $14,397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRNT. Sfmg LLC increased its holdings in Granite Ridge Resources by 28.1% during the second quarter. Sfmg LLC now owns 310,606 shares of the company’s stock valued at $1,979,000 after buying an additional 68,112 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Granite Ridge Resources in the second quarter worth approximately $659,000. Prudential Financial Inc. purchased a new stake in Granite Ridge Resources during the second quarter worth $657,000. Fidelis Capital Partners LLC bought a new stake in Granite Ridge Resources during the 2nd quarter valued at $71,000. Finally, Savant Capital LLC bought a new stake in Granite Ridge Resources during the 2nd quarter valued at $126,000. 31.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research raised Granite Ridge Resources from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings raised Granite Ridge Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Insider Buying and Selling

In related news, CFO Ronald Kyle Kettler acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $5.18 per share, with a total value of $25,900.00. Following the transaction, the chief financial officer directly owned 120,276 shares of the company’s stock, valued at $623,029.68. This trade represents a 4.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Tyler Farquharson bought 12,500 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average price of $5.21 per share, with a total value of $65,125.00. Following the completion of the purchase, the chief executive officer directly owned 334,743 shares in the company, valued at $1,744,011.03. This represents a 3.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 28,148 shares of company stock worth $145,349 in the last ninety days. 8.50% of the stock is owned by insiders.

Granite Ridge Resources Trading Up 1.1%

NYSE GRNT opened at $5.08 on Thursday. Granite Ridge Resources, Inc. has a 52 week low of $4.18 and a 52 week high of $6.72. The company has a 50 day moving average price of $4.87 and a 200 day moving average price of $5.12. The company has a quick ratio of 1.41, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The firm has a market cap of $667.16 million, a PE ratio of 28.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.34.

Granite Ridge Resources (NYSE:GRNT) last announced its earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). Granite Ridge Resources had a net margin of 5.41% and a return on equity of 8.91%. The firm had revenue of $105.49 million during the quarter, compared to analyst estimates of $120.76 million. As a group, sell-side analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 8.7%. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 244.44%.

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.