Granite Ridge Resources, Inc. (NYSE:GRNT) Director Buys $11,520.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director Griffin Perry purchased 2,000 shares of the stock in a transaction on Monday, September 18th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $11,520.00. Following the transaction, the director now directly owns 547,588 shares in the company, valued at $3,154,106.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Granite Ridge Resources Stock Up 0.7 %

Shares of NYSE:GRNT traded up $0.04 during midday trading on Monday, hitting $5.79. The stock had a trading volume of 900,323 shares, compared to its average volume of 195,053. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.97 and a quick ratio of 1.97. The business’s 50-day simple moving average is $7.22 and its 200-day simple moving average is $6.37. Granite Ridge Resources, Inc. has a 12 month low of $4.82 and a 12 month high of $14.00.

Granite Ridge Resources (NYSE:GRNT) last issued its earnings results on Thursday, August 10th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $87.56 million during the quarter. Granite Ridge Resources had a net margin of 37.61% and a return on equity of 24.71%. As a group, research analysts predict that Granite Ridge Resources, Inc. will post 0.93 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.60%. The ex-dividend date was Thursday, August 31st.

Institutional Trading of Granite Ridge Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in Granite Ridge Resources by 507.6% in the 2nd quarter. Barclays PLC now owns 5,225 shares of the company’s stock valued at $35,000 after acquiring an additional 4,365 shares during the period. Citigroup Inc. bought a new stake in shares of Granite Ridge Resources during the second quarter worth approximately $51,000. California State Teachers Retirement System acquired a new position in shares of Granite Ridge Resources in the second quarter valued at approximately $57,000. Wells Fargo & Company MN increased its stake in shares of Granite Ridge Resources by 9,620.8% during the second quarter. Wells Fargo & Company MN now owns 9,818 shares of the company’s stock worth $65,000 after purchasing an additional 9,717 shares during the period. Finally, Beacon Pointe Advisors LLC acquired a new stake in Granite Ridge Resources during the 2nd quarter worth approximately $68,000. Institutional investors own 7.56% of the company’s stock.

Granite Ridge Resources Company Profile

Granite Ridge Resources, Inc is an infrastructure firm and operates as a non-operated oil and gas exploration and production company. The firm invests in a diversified portfolio of production and top-tier acreage across the Permian and four other prolific US basins in partnership with operators. Granite Ridge Resources, Inc is headquartered in Dallas, Texas.