Janus Henderson Group PLC Acquires 21,852 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

Janus Henderson Group PLC increased its holdings in Granite Ridge Resources, Inc. (NYSE:GRNT) by 40.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,549 shares of the company’s stock after buying an additional 21,852 shares during the period. Janus Henderson Group PLC owned about 0.06% of Granite Ridge Resources worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GRNT. Dimensional Fund Advisors LP purchased a new position in shares of Granite Ridge Resources in the 2nd quarter worth approximately $2,891,000. AQR Capital Management LLC boosted its stake in Granite Ridge Resources by 72.6% in the second quarter. AQR Capital Management LLC now owns 936,201 shares of the company’s stock valued at $5,926,000 after acquiring an additional 393,787 shares in the last quarter. American Century Companies Inc. grew its holdings in Granite Ridge Resources by 35.8% in the second quarter. American Century Companies Inc. now owns 1,357,179 shares of the company’s stock worth $8,591,000 after purchasing an additional 357,705 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Granite Ridge Resources by 50.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock worth $2,522,000 after purchasing an additional 141,634 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Granite Ridge Resources during the second quarter worth $802,000. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Insiders Place Their Bets

In other Granite Ridge Resources news, CEO Luke C. Brandenberg acquired 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $6.50 per share, with a total value of $32,500.00. Following the acquisition, the chief executive officer now directly owns 96,633 shares of the company’s stock, valued at approximately $628,114.50. The trade was a 5.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew Reade Miller bought 18,173 shares of Granite Ridge Resources stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $6.49 per share, with a total value of $117,942.77. Following the acquisition, the director now owns 711,164 shares of the company’s stock, valued at $4,615,454.36. The trade was a 2.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 82,668 shares of company stock valued at $517,442. 1.90% of the stock is owned by company insiders.

Granite Ridge Resources Trading Down 0.7 %

Shares of Granite Ridge Resources stock opened at $6.10 on Monday. The firm’s 50 day simple moving average is $6.25 and its two-hundred day simple moving average is $6.31. The firm has a market capitalization of $797.54 million, a price-to-earnings ratio of 16.94, a PEG ratio of 1.62 and a beta of 0.23. Granite Ridge Resources, Inc. has a 12-month low of $5.20 and a 12-month high of $7.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30.

Granite Ridge Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 7.21%. Granite Ridge Resources’s dividend payout ratio (DPR) is 122.22%.

Analyst Upgrades and Downgrades

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

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.