Matthew Reade Miller Acquires 18,173 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director Matthew Reade Miller purchased 18,173 shares of Granite Ridge Resources stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $6.49 per share, with a total value of $117,942.77. Following the transaction, the director now owns 711,164 shares in the company, valued at $4,615,454.36. The trade was a 2.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Matthew Reade Miller also recently made the following trade(s):

• On Friday, September 13th, Matthew Reade Miller purchased 495 shares of Granite Ridge Resources stock. The stock was acquired at an average price of $6.23 per share, with a total value of $3,083.85.
• On Wednesday, September 11th, Matthew Reade Miller purchased 8,500 shares of Granite Ridge Resources stock. The stock was acquired at an average price of $5.97 per share, with a total value of $50,745.00.

Granite Ridge Resources Stock Up 2.6 %

Shares of Granite Ridge Resources stock opened at $6.78 on Friday. The company has a market cap of $886.42 million, a P/E ratio of 18.83, a PEG ratio of 1.75 and a beta of 0.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. Granite Ridge Resources, Inc. has a one year low of $5.20 and a one year high of $7.10. The firm has a fifty day moving average of $6.19 and a two-hundred day moving average of $6.33.

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 given a dividend of $0.11 per share. The ex-dividend date is Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 6.49%. Granite Ridge Resources’s payout ratio is currently 122.23%.

Hedge Funds Weigh In On Granite Ridge Resources

Large investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Granite Ridge Resources by 4,228.0% during the 2nd quarter. CWM LLC now owns 10,214 shares of the company’s stock worth $65,000 after purchasing an additional 9,978 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Granite Ridge Resources during the 3rd quarter worth $66,000. nVerses Capital LLC acquired a new position in shares of Granite Ridge Resources during the 2nd quarter worth $99,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Granite Ridge Resources by 20.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after purchasing an additional 2,709 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Granite Ridge Resources by 52.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock worth $147,000 after purchasing an additional 7,965 shares during the period. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI cut 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 research report on Monday, September 30th.

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.