Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Acquired by Barclays PLC

Barclays PLC lifted its stake in Granite Ridge Resources, Inc. (NYSE:GRNT) by 306.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,092 shares of the company’s stock after buying an additional 61,162 shares during the period. Barclays PLC owned approximately 0.06% of Granite Ridge Resources worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRNT. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Granite Ridge Resources by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after purchasing an additional 2,709 shares during the last quarter. Principal Financial Group Inc. grew its stake in Granite Ridge Resources by 17.2% during the 2nd quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock worth $171,000 after buying an additional 3,980 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Granite Ridge Resources by 52.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock worth $147,000 after buying an additional 7,965 shares during the last quarter. Sfmg LLC increased its position in Granite Ridge Resources by 5.5% during the second quarter. Sfmg LLC now owns 191,420 shares of the company’s stock worth $1,212,000 after buying an additional 9,960 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in Granite Ridge Resources in the third quarter valued at approximately $66,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Granite Ridge Resources news, Director Matthew Reade Miller bought 41,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were bought at an average price of $6.10 per share, for a total transaction of $250,100.00. Following the transaction, the director now owns 772,491 shares of the company’s stock, valued at approximately $4,712,195.10. This trade represents a 5.60 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 86,723 shares in the company, valued at approximately $568,035.65. This trade represents a 6.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 83,174 shares of company stock valued at $520,493. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

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

Granite Ridge Resources Stock Performance

NYSE GRNT opened at $6.65 on Friday. The firm has a market cap of $869.45 million, a P/E ratio of 18.47, a P/E/G ratio of 1.62 and a beta of 0.23. Granite Ridge Resources, Inc. has a 52-week low of $5.20 and a 52-week high of $7.10. The business’s 50-day moving average price is $6.25 and its 200 day moving average price is $6.29. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 6.62%. Granite Ridge Resources’s dividend payout ratio (DPR) is currently 122.22%.

Granite Ridge Resources 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.