State Street Corp Acquires 12,607 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

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

A number of other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp raised 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 acquiring an additional 78,636 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Granite Ridge Resources by 20.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock valued at $100,000 after purchasing an additional 2,709 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Granite Ridge Resources by 17.2% during the second quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock valued at $171,000 after purchasing an additional 3,980 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Granite Ridge Resources in the second quarter valued at approximately $99,000. Finally, Rhumbline Advisers lifted its stake in shares of Granite Ridge Resources by 66.5% in the second quarter. Rhumbline Advisers now owns 73,052 shares of the company’s stock worth $462,000 after buying an additional 29,167 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Evercore ISI dropped 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 Stock Up 0.3 %

Shares of GRNT stock opened at $5.98 on Monday. Granite Ridge Resources, Inc. has a one year low of $5.20 and a one year high of $7.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a fifty day moving average price of $6.21 and a 200 day moving average price of $6.28. The stock has a market cap of $781.85 million, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 1.62 and a beta of 0.23.

Granite Ridge Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date of this dividend was Friday, November 29th. Granite Ridge Resources’s payout ratio is 122.22%.

Insider Activity

In related news, CFO Tyler Farquharson bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the transaction, the chief financial officer now directly owns 86,723 shares of the company’s stock, valued at $568,035.65. This represents a 6.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Luke C. Brandenberg purchased 8,495 shares of the stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the transaction, the chief executive officer now directly owns 109,128 shares of the company’s stock, valued at approximately $665,680.80. This trade represents a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 83,174 shares of company stock worth $520,493. Corporate insiders own 1.90% of the company’s stock.

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.