Granite Ridge Resources, Inc. (NYSE:GRNT – Get Free Report) CEO Luke C. Brandenberg acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $6.23 per share, for a total transaction of $31,150.00. Following the purchase, the chief executive officer now directly owns 91,633 shares of the company’s stock, valued at $570,873.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Granite Ridge Resources Price Performance
Shares of NYSE GRNT opened at $6.58 on Friday. Granite Ridge Resources, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $8.14. The firm’s 50-day simple moving average is $6.42 and its 200 day simple moving average is $6.34. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.20. The stock has a market cap of $859.64 million, a P/E ratio of 14.61, a P/E/G ratio of 6.64 and a beta of 0.20.
Granite Ridge Resources (NYSE:GRNT – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Granite Ridge Resources had a net margin of 15.43% and a return on equity of 14.35%. The company had revenue of $90.65 million for the quarter, compared to the consensus estimate of $96.97 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities analysts expect that Granite Ridge Resources, Inc. will post 0.6 EPS for the current year.
Granite Ridge Resources Announces Dividend
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on GRNT. Roth Capital raised shares of Granite Ridge Resources to a “strong-buy” rating in a research report on Wednesday, May 15th. Bank of America reaffirmed a “neutral” rating and issued a $7.00 price objective on shares of Granite Ridge Resources in a report on Friday, June 14th. Roth Mkm started coverage on shares of Granite Ridge Resources in a report on Wednesday, May 15th. They issued a “buy” rating and a $8.80 price objective for the company. Finally, Evercore ISI started coverage on shares of Granite Ridge Resources in a report on Monday, April 29th. They issued an “in-line” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.95.
View Our Latest Research Report on GRNT
Institutional Investors Weigh In On Granite Ridge Resources
Hedge funds and other institutional investors have recently bought and sold shares of the business. Georgetown University purchased a new position in Granite Ridge Resources in the 4th quarter worth about $15,818,000. Silvercrest Asset Management Group LLC increased its stake in Granite Ridge Resources by 32.9% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock worth $10,680,000 after purchasing an additional 406,500 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Granite Ridge Resources in the 1st quarter worth about $186,000. DGS Capital Management LLC purchased a new position in Granite Ridge Resources in the 4th quarter worth about $100,000. Finally, Swiss National Bank increased its stake in Granite Ridge Resources by 11.6% in the 4th quarter. Swiss National Bank now owns 66,500 shares of the company’s stock worth $400,000 after purchasing an additional 6,900 shares in the last quarter. 31.56% of the stock is currently owned by institutional investors.
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.
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