Granite Ridge Resources (NYSE:GRNT) CEO Buys $65,125.00 in Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) CEO Tyler Farquharson bought 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $5.21 per share, with a total value of $65,125.00. Following the completion of the transaction, 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. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Granite Ridge Resources Stock Up 0.9%

Shares of NYSE:GRNT opened at $5.17 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.41 and a current ratio of 1.25. Granite Ridge Resources, Inc. has a 52-week low of $4.18 and a 52-week high of $6.72. The business’s 50 day simple moving average is $4.89 and its two-hundred day simple moving average is $5.12. The firm has a market cap of $678.99 million, a P/E ratio of 28.69, a PEG ratio of 3.22 and a beta of 0.34.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.01 EPS 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 for the quarter, compared to the consensus estimate of $120.76 million. As a group, research analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.

Granite Ridge Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date was Friday, February 27th. Granite Ridge Resources’s payout ratio is 244.44%.

Analyst Ratings Changes

A number of research firms have weighed in on GRNT. Zacks Research raised shares of Granite Ridge Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings raised shares of 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 stock presently has a consensus rating of “Hold”.

Institutional Trading of Granite Ridge Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. Great Lakes Advisors LLC purchased a new position in Granite Ridge Resources in the first quarter worth $113,000. Jane Street Group LLC purchased a new stake in shares of Granite Ridge Resources during the 1st quarter valued at $131,000. Savant Capital LLC purchased a new stake in shares of Granite Ridge Resources during the 2nd quarter valued at $126,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Granite Ridge Resources during the 2nd quarter worth $659,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Granite Ridge Resources in the 2nd quarter worth about $71,000. 31.56% of the stock is owned by hedge funds and other 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.