Granite Ridge Resources, Inc. (NYSE:GRNT) Stock Holdings Boosted by Barclays PLC

Barclays PLC boosted its position in Granite Ridge Resources, Inc. (NYSE:GRNT) by 306.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 81,092 shares of the company’s stock after buying an additional 61,162 shares during the quarter. Barclays PLC’s holdings in Granite Ridge Resources were worth $482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRNT. Charles Schwab Investment Management Inc. increased its stake in shares of Granite Ridge Resources by 50.1% in the third 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 period. Geode Capital Management LLC boosted its position in shares of Granite Ridge Resources by 35.1% during the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock worth $7,258,000 after buying an additional 317,303 shares during the period. Janus Henderson Group PLC grew its holdings in Granite Ridge Resources by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock worth $455,000 after buying an additional 21,852 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Granite Ridge Resources in the 3rd quarter valued at approximately $361,000. Finally, CWA Asset Management Group LLC acquired a new stake in Granite Ridge Resources in the 3rd quarter valued at approximately $711,000. 31.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Evercore ISI reduced their price target on 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 Buying and Selling

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

Granite Ridge Resources Stock Down 0.5 %

GRNT stock opened at $6.84 on Friday. The firm’s 50-day moving average is $6.41 and its two-hundred day moving average is $6.34. The company has a market capitalization of $893.61 million, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.22. Granite Ridge Resources, Inc. has a 52 week low of $5.20 and a 52 week high of $7.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30.

Granite Ridge Resources Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued 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 6.44%. Granite Ridge Resources’s payout ratio is 122.23%.

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.