Charles Schwab Investment Management Inc. Grows Holdings in Granite Ridge Resources, Inc. (NYSE:GRNT)

Charles Schwab Investment Management Inc. boosted its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,941 shares of the company’s stock after buying an additional 18,348 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.34% of Granite Ridge Resources worth $2,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belvedere Trading LLC acquired a new position in shares of Granite Ridge Resources in the fourth quarter worth about $75,000. Northwestern University purchased a new stake in Granite Ridge Resources during the 4th quarter worth approximately $117,000. PDT Partners LLC acquired a new position in shares of Granite Ridge Resources in the 3rd quarter valued at approximately $281,000. Janus Henderson Group PLC raised its position in shares of Granite Ridge Resources by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock valued at $455,000 after purchasing an additional 21,852 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Granite Ridge Resources by 306.9% during the 3rd quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after buying an additional 61,162 shares during the last quarter. 31.56% of the stock is owned by hedge funds and other institutional investors.

Granite Ridge Resources Stock Performance

Shares of GRNT opened at $6.22 on Friday. The stock has a market capitalization of $813.00 million, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.23. The business’s fifty day moving average price is $6.09 and its 200 day moving average price is $6.20. 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 12-month low of $5.27 and a 12-month high of $7.10.

Granite Ridge Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.11 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.08%. Granite Ridge Resources’s payout ratio is currently 314.29%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GRNT shares. Capital One Financial lowered shares of Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Stephens restated an “overweight” rating and issued a $8.00 target price on shares of Granite Ridge Resources in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Granite Ridge Resources presently has an average rating of “Moderate Buy” and an average price target of $7.70.

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.