Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 34.3% during the third quarter, Holdings Channel reports. The fund owned 23,070 shares of the company’s stock after selling 12,019 shares during the quarter. Jane Street Group LLC’s holdings in Granite Ridge Resources were worth $137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Granite Ridge Resources by 17.2% in the 2nd quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock worth $171,000 after acquiring an additional 3,980 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Granite Ridge Resources by 52.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock worth $147,000 after acquiring an additional 7,965 shares during the period. Sfmg LLC increased its holdings in shares of Granite Ridge Resources by 5.5% in the 2nd quarter. Sfmg LLC now owns 191,420 shares of the company’s stock worth $1,212,000 after acquiring an additional 9,960 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of Granite Ridge Resources in the 3rd quarter worth about $66,000. Finally, State Street Corp increased its holdings in shares of Granite Ridge Resources by 1.4% in the 3rd quarter. State Street Corp now owns 887,319 shares of the company’s stock worth $5,271,000 after acquiring an additional 12,607 shares during the period. Institutional investors and hedge funds own 31.56% of the company’s stock.

Insider Buying and Selling at Granite Ridge Resources

In related news, CFO Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Wednesday, November 13th. The stock was acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the transaction, the chief financial officer now directly owns 86,723 shares of the company’s stock, valued at $568,035.65. This trade represents a 6.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Reade Miller acquired 41,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $250,100.00. Following the transaction, the director now owns 772,491 shares of the company’s stock, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 83,174 shares of company stock valued at $520,493. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI dropped their price objective 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 Down 1.5 %

Granite Ridge Resources stock opened at $6.79 on Tuesday. The stock has a market cap of $887.75 million, a price-to-earnings ratio of 18.86, a PEG ratio of 1.61 and a beta of 0.22. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $6.35 and its two-hundred day moving average price is $6.32. Granite Ridge Resources, Inc. has a 52 week low of $5.20 and a 52 week high of $7.10.

Granite Ridge Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.11 per share. The ex-dividend date was Friday, November 29th. This represents a $0.44 annualized dividend and a yield of 6.48%. Granite Ridge Resources’s payout ratio is 122.22%.

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.