CWA Asset Management Group LLC Purchases 10,106 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

CWA Asset Management Group LLC raised its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,829 shares of the company’s stock after acquiring an additional 10,106 shares during the quarter. CWA Asset Management Group LLC owned approximately 0.10% of Granite Ridge Resources worth $839,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Granite Ridge Resources by 50.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock valued at $2,522,000 after purchasing an additional 141,634 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Granite Ridge Resources during the second quarter valued at approximately $802,000. Janus Henderson Group PLC lifted its stake in Granite Ridge Resources by 40.0% in the third quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock worth $455,000 after acquiring an additional 21,852 shares during the period. Geode Capital Management LLC boosted its holdings in Granite Ridge Resources by 35.1% in the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock valued at $7,258,000 after acquiring an additional 317,303 shares in the last quarter. Finally, Barclays PLC increased its position in Granite Ridge Resources by 306.9% during the 3rd quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after purchasing an additional 61,162 shares during the period. 31.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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 for the company in a research report on Monday, September 30th.

Insider Activity at Granite Ridge Resources

In related news, CFO Tyler Farquharson bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the acquisition, the chief financial officer now owns 86,723 shares of the company’s stock, valued at $568,035.65. The trade was a 6.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Luke C. Brandenberg bought 8,495 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was bought at an average cost of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the purchase, the chief executive officer now owns 109,128 shares of the company’s stock, valued at approximately $665,680.80. The trade was a 8.44 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 83,174 shares of company stock valued at $520,493 in the last three months. Company insiders own 1.90% of the company’s stock.

Granite Ridge Resources Price Performance

Shares of GRNT stock opened at $6.74 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The stock has a market cap of $881.21 million, a price-to-earnings ratio of 18.72, a PEG ratio of 1.62 and a beta of 0.22. The business’s fifty day moving average is $6.29 and its 200 day moving average is $6.31. Granite Ridge Resources, Inc. has a twelve month low of $5.20 and a twelve month high of $7.10.

Granite Ridge Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 6.53%. 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.