SG Americas Securities LLC Has $156,000 Position in Granite Ridge Resources, Inc. (NYSE:GRNT)

SG Americas Securities LLC boosted its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 155.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,335 shares of the company’s stock after buying an additional 16,037 shares during the quarter. SG Americas Securities LLC’s holdings in Granite Ridge Resources were worth $156,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its stake in shares of Granite Ridge Resources by 32.9% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock worth $10,680,000 after buying an additional 406,500 shares during the last quarter. Denali Advisors LLC acquired a new position in Granite Ridge Resources during the second quarter valued at approximately $802,000. Susquehanna Fundamental Investments LLC bought a new position in Granite Ridge Resources in the first quarter valued at approximately $186,000. Jupiter Asset Management Ltd. increased its position in shares of Granite Ridge Resources by 222.3% during the 1st quarter. Jupiter Asset Management Ltd. now owns 37,900 shares of the company’s stock worth $246,000 after purchasing an additional 26,142 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Granite Ridge Resources by 35.8% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.

Insider Transactions at Granite Ridge Resources

In related news, Director Matthew Reade Miller purchased 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $50,745.00. Following the purchase, the director now owns 692,496 shares in the company, valued at approximately $4,134,201.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Tyler Farquharson acquired 5,000 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $6.62 per share, for a total transaction of $33,100.00. Following the transaction, the chief financial officer now directly owns 76,723 shares of the company’s stock, valued at approximately $507,906.26. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Reade Miller bought 8,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average cost of $5.97 per share, with a total value of $50,745.00. Following the acquisition, the director now directly owns 692,496 shares of the company’s stock, valued at approximately $4,134,201.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 30,433 shares of company stock worth $189,581. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Evercore ISI lowered 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 Trading Up 0.5 %

Granite Ridge Resources stock opened at $5.95 on Friday. The stock has a 50-day simple moving average of $6.18 and a 200 day simple moving average of $6.38. The stock has a market capitalization of $777.93 million, a P/E ratio of 13.22, a PEG ratio of 1.61 and a beta of 0.19. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.24 and a current ratio of 2.24. Granite Ridge Resources, Inc. has a 52 week low of $5.20 and a 52 week high of $7.10.

Granite Ridge Resources (NYSE:GRNT) last posted its earnings results on Thursday, August 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Granite Ridge Resources had a return on equity of 13.01% and a net margin of 14.39%. The business had revenue of $90.65 million for the quarter, compared to analyst estimates of $96.97 million. During the same period in the previous year, the firm posted $0.19 earnings per share. Analysts expect that Granite Ridge Resources, Inc. will post 0.55 earnings per share for the current year.

Granite Ridge Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.39%. The ex-dividend date was Friday, August 30th. Granite Ridge Resources’s payout ratio is presently 97.78%.

About Granite Ridge Resources

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.