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

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Wednesday, November 13th. The stock was bought at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the purchase, the chief financial officer now owns 86,723 shares in the company, valued at approximately $568,035.65. This trade represents a 6.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, 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, for a total transaction of $29,750.00.
• On Monday, August 19th, Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock. The shares were purchased at an average price of $6.62 per share, for a total transaction of $33,100.00.

Granite Ridge Resources Price Performance

NYSE GRNT opened at $6.63 on Friday. Granite Ridge Resources, Inc. has a 1 year low of $5.20 and a 1 year high of $7.10. The business’s fifty day moving average is $6.13 and its two-hundred day moving average is $6.33. The stock has a market capitalization of $866.15 million, a P/E ratio of 18.40, a P/E/G ratio of 1.71 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 Dividend Announcement

The business 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 dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 annualized dividend and a yield of 6.64%. Granite Ridge Resources’s payout ratio is presently 122.23%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI lowered their target price on 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.

Institutional Investors Weigh In On Granite Ridge Resources

Hedge funds have recently made changes to their positions in the company. CWM LLC raised its position in Granite Ridge Resources by 4,228.0% during the second quarter. CWM LLC now owns 10,214 shares of the company’s stock valued at $65,000 after buying an additional 9,978 shares during the period. Ground Swell Capital LLC bought a new position in Granite Ridge Resources during the third quarter valued at approximately $66,000. nVerses Capital LLC acquired a new stake in Granite Ridge Resources in the second quarter valued at approximately $99,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Granite Ridge Resources by 20.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock worth $100,000 after acquiring an additional 2,709 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased 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 last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

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.