42,876 Shares in Granite Ridge Resources, Inc. (NYSE:GRNT) Bought by Trexquant Investment LP

Trexquant Investment LP purchased a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 42,876 shares of the company’s stock, valued at approximately $277,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Granite Ridge Resources by 50.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock worth $2,522,000 after purchasing an additional 141,634 shares during the period. Janus Henderson Group PLC lifted 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 during the period. State Street Corp grew its position 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 buying an additional 12,607 shares during the last quarter. Barclays PLC increased its stake in shares of Granite Ridge Resources by 306.9% during the third quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after buying an additional 61,162 shares during the period. Finally, Geode Capital Management LLC raised its holdings 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 valued at $7,258,000 after acquiring an additional 317,303 shares in the last quarter. Institutional investors own 31.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens reissued an “overweight” rating and set a $8.00 price objective on shares of Granite Ridge Resources in a research report on Friday, March 7th. Capital One Financial cut shares of Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.70.

Granite Ridge Resources Stock Performance

Shares of Granite Ridge Resources stock opened at $4.88 on Monday. The business has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $6.12. The firm has a market capitalization of $637.71 million, a P/E ratio of 13.54, a P/E/G ratio of 1.29 and a beta of 0.20. 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, Inc. has a 12 month low of $4.52 and a 12 month high of $7.10.

Granite Ridge Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 9.03%. The ex-dividend date was Friday, February 28th. Granite Ridge Resources’s payout ratio is currently 314.29%.

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.