Granite Ridge Resources, Inc. (NYSE:GRNT) Stock Position Increased by State Street Corp

State Street Corp grew its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 887,319 shares of the company’s stock after purchasing an additional 12,607 shares during the period. State Street Corp owned approximately 0.68% of Granite Ridge Resources worth $5,271,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Granite Ridge Resources by 6.8% in the second quarter. Bank of New York Mellon Corp now owns 1,233,733 shares of the company’s stock worth $7,810,000 after purchasing an additional 78,636 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Granite Ridge Resources by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock valued at $100,000 after buying an additional 2,709 shares in the last quarter. Principal Financial Group Inc. increased 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 valued at $171,000 after buying an additional 3,980 shares during the period. nVerses Capital LLC bought a new stake in shares of Granite Ridge Resources during the 2nd quarter worth about $99,000. Finally, Rhumbline Advisers lifted its stake in shares of Granite Ridge Resources by 66.5% in the 2nd quarter. Rhumbline Advisers now owns 73,052 shares of the company’s stock worth $462,000 after acquiring an additional 29,167 shares during the period. Institutional investors and hedge funds own 31.56% of the company’s stock.

Analysts Set New Price Targets

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 report on Monday, September 30th.

Insider Transactions at Granite Ridge Resources

In related news, CEO Luke C. Brandenberg purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $32,500.00. Following the transaction, the chief executive officer now directly owns 96,633 shares of the company’s stock, valued at $628,114.50. This trade represents a 5.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew Reade Miller purchased 41,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $250,100.00. Following the acquisition, the director now directly owns 772,491 shares of the company’s stock, valued at $4,712,195.10. This trade represents a 5.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 83,174 shares of company stock valued at $520,493 in the last quarter. Insiders own 1.90% of the company’s stock.

Granite Ridge Resources Trading Up 0.3 %

Shares of Granite Ridge Resources stock opened at $5.98 on Monday. The business has a fifty day simple moving average of $6.21 and a 200-day simple moving average of $6.28. Granite Ridge Resources, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $7.10. The firm has a market cap of $781.85 million, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.62 and a beta of 0.23. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.11 per share. The ex-dividend date was Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 7.36%. Granite Ridge Resources’s dividend payout ratio (DPR) is 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.