American Century Companies Inc. Has $13.28 Million Position in Granite Ridge Resources, Inc. (NYSE:GRNT)

American Century Companies Inc. raised its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,056,078 shares of the company’s stock after purchasing an additional 282,912 shares during the period. American Century Companies Inc. owned approximately 1.57% of Granite Ridge Resources worth $13,282,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GRNT. Quantbot Technologies LP increased its holdings in shares of Granite Ridge Resources by 691.0% in the fourth quarter. Quantbot Technologies LP now owns 9,112 shares of the company’s stock worth $59,000 after acquiring an additional 7,960 shares in the last quarter. Grey Rock Energy Management LLC bought a new stake in Granite Ridge Resources during the 4th quarter worth approximately $357,018,000. Intech Investment Management LLC acquired a new stake in Granite Ridge Resources during the 4th quarter worth approximately $162,000. HighTower Advisors LLC bought a new position in Granite Ridge Resources in the fourth quarter valued at approximately $941,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Granite Ridge Resources in the fourth quarter valued at approximately $200,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.

Granite Ridge Resources Stock Up 1.6 %

Shares of GRNT stock opened at $6.18 on Wednesday. The firm’s fifty day moving average price is $6.05 and its two-hundred day moving average price is $6.20. 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 1 year low of $5.27 and a 1 year high of $7.10. The firm has a market capitalization of $807.77 million, a P/E ratio of 17.15, a PEG ratio of 1.29 and a beta of 0.23.

Granite Ridge Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, February 28th. This represents a $0.44 annualized dividend and a yield of 7.13%. Granite Ridge Resources’s payout ratio is presently 314.29%.

Wall Street Analyst Weigh In

GRNT has been the topic of a number of research analyst reports. Stephens restated an “overweight” rating and set a $8.00 price objective on shares of Granite Ridge Resources in a report on Friday, March 7th. Capital One Financial lowered Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Granite Ridge Resources currently has a consensus rating of “Moderate Buy” and a consensus target price 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.