Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson Buys 5,000 Shares

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the purchase, the chief financial officer now owns 86,723 shares in the company, valued at $568,035.65. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tyler Farquharson also recently made the following trade(s):

• On Wednesday, September 11th, Tyler Farquharson bought 5,000 shares of Granite Ridge Resources stock. The shares were purchased at an average cost of $5.95 per share, with a total value of $29,750.00.
• On Monday, August 19th, Tyler Farquharson acquired 5,000 shares of Granite Ridge Resources stock. The stock was purchased at an average cost of $6.62 per share, with a total value of $33,100.00.

Granite Ridge Resources Price Performance

NYSE:GRNT traded down $0.03 during trading hours on Wednesday, hitting $6.56. 286,019 shares of the stock were exchanged, compared to its average volume of 425,692. The firm’s fifty day moving average price is $6.11 and its 200 day moving average price is $6.33. Granite Ridge Resources, Inc. has a 52-week low of $5.20 and a 52-week high of $7.10. The company has a market cap of $857.65 million, a P/E ratio of 18.28, a P/E/G ratio of 1.73 and a beta of 0.19. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.11 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 6.71%. Granite Ridge Resources’s payout ratio is currently 122.23%.

Institutional Investors Weigh In On Granite Ridge Resources

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Granite Ridge Resources by 2.9% during the first quarter. Vanguard Group Inc. now owns 1,683,523 shares of the company’s stock worth $10,943,000 after buying an additional 47,182 shares during the last quarter. Silvercrest Asset Management Group LLC raised its stake in Granite Ridge Resources by 32.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock worth $10,680,000 after purchasing an additional 406,500 shares during the period. American Century Companies Inc. boosted its holdings in Granite Ridge Resources by 35.8% in the 2nd quarter. American Century Companies Inc. now owns 1,357,179 shares of the company’s stock valued at $8,591,000 after purchasing an additional 357,705 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Granite Ridge Resources by 6.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,233,733 shares of the company’s stock valued at $7,810,000 after buying an additional 78,636 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Granite Ridge Resources by 72.6% during the 2nd quarter. AQR Capital Management LLC now owns 936,201 shares of the company’s stock worth $5,926,000 after buying an additional 393,787 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI reduced their price target on 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.

Granite Ridge Resources Company 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.