Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 34.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,070 shares of the company’s stock after selling 12,019 shares during the period. Jane Street Group LLC’s holdings in Granite Ridge Resources were worth $137,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ground Swell Capital LLC purchased a new stake in Granite Ridge Resources during the third quarter worth approximately $66,000. The Manufacturers Life Insurance Company grew its stake in Granite Ridge Resources by 52.3% during the second 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 period. SG Americas Securities LLC grew its stake in Granite Ridge Resources by 155.7% during the third quarter. SG Americas Securities LLC now owns 26,335 shares of the company’s stock worth $156,000 after buying an additional 16,037 shares during the period. Principal Financial Group Inc. grew its stake in Granite Ridge Resources by 17.2% during the second 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 period. Finally, PDT Partners LLC purchased a new stake in Granite Ridge Resources during the third quarter worth approximately $281,000. 31.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI decreased their price objective on shares of Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Monday, September 30th.

Insider Activity

In related news, Director Matthew Reade Miller acquired 41,000 shares of Granite Ridge Resources stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $6.10 per share, for a total transaction of $250,100.00. Following the purchase, the director now directly owns 772,491 shares of the company’s stock, valued at $4,712,195.10. The trade was a 5.60 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luke C. Brandenberg acquired 5,000 shares of Granite Ridge Resources stock in a transaction on Friday, November 15th. The shares were bought at an average price of $6.50 per share, for a total transaction of $32,500.00. Following the completion of the purchase, the chief executive officer now directly owns 96,633 shares in the company, valued at $628,114.50. The trade was a 5.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 83,174 shares of company stock worth $520,493. 1.90% of the stock is currently owned by company insiders.

Granite Ridge Resources Price Performance

Shares of GRNT stock opened at $6.79 on Tuesday. The company has a market capitalization of $887.75 million, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.61 and a beta of 0.22. The firm has a fifty day simple moving average of $6.35 and a 200-day simple moving average of $6.32. 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, Inc. has a twelve month low of $5.20 and a twelve month high of $7.10.

Granite Ridge Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.11 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 6.48%. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 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.