Barclays PLC Purchases 28,453 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

Barclays PLC grew its holdings in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 35.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,545 shares of the company’s stock after buying an additional 28,453 shares during the period. Barclays PLC’s holdings in Granite Ridge Resources were worth $708,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP lifted its position in Granite Ridge Resources by 691.0% during the 4th quarter. Quantbot Technologies LP now owns 9,112 shares of the company’s stock valued at $59,000 after acquiring an additional 7,960 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Granite Ridge Resources during the fourth quarter valued at approximately $68,000. Belvedere Trading LLC purchased a new position in shares of Granite Ridge Resources during the fourth quarter valued at approximately $75,000. Victory Capital Management Inc. boosted its position in shares of Granite Ridge Resources by 18.0% in the 4th quarter. Victory Capital Management Inc. now owns 17,889 shares of the company’s stock worth $116,000 after purchasing an additional 2,735 shares in the last quarter. Finally, Northwestern University purchased a new stake in shares of Granite Ridge Resources in the 4th quarter worth approximately $117,000. Institutional investors own 31.56% of the company’s stock.

Analyst Ratings Changes

GRNT has been the topic of several analyst reports. Stephens reissued an “overweight” rating and issued a $8.00 target price on shares of Granite Ridge Resources in a 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 note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Granite Ridge Resources presently has an average rating of “Moderate Buy” and a consensus price target of $7.70.

Granite Ridge Resources Trading Up 0.4 %

NYSE:GRNT opened at $4.95 on Thursday. The company has a 50 day simple moving average of $5.35 and a two-hundred day simple moving average of $5.97. The company has a market cap of $649.12 million, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.23. 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 declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.44 annualized dividend and a yield of 8.89%. Granite Ridge Resources’s payout ratio is presently 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.