Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson Buys 5,000 Shares

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the acquisition, the chief financial officer now directly owns 86,723 shares in the company, valued at $568,035.65. This represents a 6.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tyler Farquharson also recently made the following trade(s):

• On Wednesday, September 11th, Tyler Farquharson bought 5,000 shares of Granite Ridge Resources stock. The shares were purchased at an average cost of $5.95 per share, for a total transaction of $29,750.00.
• On Monday, August 19th, Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock. The stock was purchased at an average cost of $6.62 per share, with a total value of $33,100.00.

Granite Ridge Resources Trading Down 3.5 %

Shares of GRNT opened at $6.40 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56. Granite Ridge Resources, Inc. has a 1-year low of $5.20 and a 1-year high of $7.10. The company has a market capitalization of $836.76 million, a P/E ratio of 17.78, a P/E/G ratio of 1.71 and a beta of 0.19. The firm’s 50 day simple moving average is $6.14 and its 200 day simple moving average is $6.33.

Granite Ridge Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend is Friday, November 29th. Granite Ridge Resources’s dividend payout ratio is currently 122.22%.

Analysts Set New Price Targets

Separately, Evercore ISI lowered their price objective on Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th.

Institutional Investors Weigh In On Granite Ridge Resources

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Granite Ridge Resources by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after buying an additional 2,709 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Granite Ridge Resources by 17.2% in the 2nd quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock valued at $171,000 after purchasing an additional 3,980 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Granite Ridge Resources by 14.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,615 shares of the company’s stock valued at $374,000 after purchasing an additional 7,304 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Granite Ridge Resources by 52.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock worth $147,000 after purchasing an additional 7,965 shares during the period. Finally, Sfmg LLC grew its stake in shares of Granite Ridge Resources by 5.5% during the second quarter. Sfmg LLC now owns 191,420 shares of the company’s stock valued at $1,212,000 after buying an additional 9,960 shares during the last quarter. Hedge funds and other institutional investors own 31.56% 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.