Northwestern University Purchases New Position in Granite Ridge Resources, Inc. (NYSE:GRNT)

Northwestern University acquired a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) during the fourth quarter, HoldingsChannel reports. The fund acquired 18,172 shares of the company’s stock, valued at approximately $117,000. Granite Ridge Resources accounts for 0.2% of Northwestern University’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Spider Management Company LLC raised its position in Granite Ridge Resources by 21.4% in the fourth quarter. Spider Management Company LLC now owns 4,951,533 shares of the company’s stock worth $31,987,000 after acquiring an additional 872,282 shares during the period. CWA Asset Management Group LLC lifted its position in Granite Ridge Resources by 8.4% during the fourth quarter. CWA Asset Management Group LLC now owns 129,829 shares of the company’s stock valued at $839,000 after purchasing an additional 10,106 shares in the last quarter. Barclays PLC increased its position in Granite Ridge Resources by 306.9% in the third quarter. Barclays PLC now owns 81,092 shares of the company’s stock worth $482,000 after buying an additional 61,162 shares in the last quarter. Geode Capital Management LLC raised its stake in Granite Ridge Resources by 35.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock worth $7,258,000 after acquiring an additional 317,303 shares during the period. Finally, State Street Corp raised its position in shares of Granite Ridge Resources by 1.4% during the 3rd quarter. State Street Corp now owns 887,319 shares of the company’s stock valued at $5,271,000 after purchasing an additional 12,607 shares during the period. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Granite Ridge Resources Price Performance

Shares of Granite Ridge Resources stock opened at $6.05 on Friday. The stock’s 50-day simple moving average is $6.35 and its 200-day simple moving average is $6.31. The company has a market capitalization of $790.98 million, a price-to-earnings ratio of 16.81, a PEG ratio of 1.37 and a beta of 0.22. Granite Ridge Resources, Inc. has a 52 week low of $5.43 and a 52 week high of $7.10. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $94.08 million during the quarter, compared to the consensus estimate of $96.35 million. Granite Ridge Resources had a net margin of 12.59% and a return on equity of 11.58%. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, analysts expect that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Granite Ridge Resources

In related news, CFO Tyler Farquharson purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the acquisition, the chief financial officer now owns 86,723 shares of the company’s stock, valued at approximately $568,035.65. This represents a 6.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Luke C. Brandenberg acquired 8,495 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $6.10 per share, with a total value of $51,819.50. Following the completion of the purchase, the chief executive officer now directly owns 109,128 shares of the company’s stock, valued at $665,680.80. This trade represents a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 83,174 shares of company stock worth $520,493 in the last quarter. 1.90% of the stock is owned by corporate insiders.

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.