Tyler Farquharson Buys 5,000 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) CFO Tyler Farquharson acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price 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 in the company, valued at approximately $568,035.65. The trade was a 6.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Tyler Farquharson also recently made the following trade(s):

• On Wednesday, September 11th, Tyler Farquharson purchased 5,000 shares of Granite Ridge Resources stock. The shares were purchased at an average cost of $5.95 per share, with a total value of $29,750.00.
• On Monday, August 19th, Tyler Farquharson acquired 5,000 shares of Granite Ridge Resources stock. The stock was purchased at an average price of $6.62 per share, for a total transaction of $33,100.00.

Granite Ridge Resources Trading Up 1.5 %

Granite Ridge Resources stock opened at $6.63 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. The firm’s 50-day moving average is $6.13 and its 200-day moving average is $6.33. Granite Ridge Resources, Inc. has a 1 year low of $5.20 and a 1 year high of $7.10. The company has a market cap of $866.15 million, a P/E ratio of 18.40, a PEG ratio of 1.71 and a beta of 0.19.

Granite Ridge Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend is Friday, November 29th. Granite Ridge Resources’s dividend payout ratio (DPR) is 122.23%.

Analysts Set New Price Targets

Separately, Evercore ISI decreased their price target on Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating for the company in a report on Monday, September 30th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Granite Ridge Resources by 2.9% during the first quarter. Vanguard Group Inc. now owns 1,683,523 shares of the company’s stock valued at $10,943,000 after acquiring an additional 47,182 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of Granite Ridge Resources by 32.9% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,643,000 shares of the company’s stock valued at $10,680,000 after purchasing an additional 406,500 shares during the period. American Century Companies Inc. raised its holdings in shares of Granite Ridge Resources by 35.8% during the second quarter. American Century Companies Inc. now owns 1,357,179 shares of the company’s stock valued at $8,591,000 after buying an additional 357,705 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Granite Ridge Resources by 6.8% during the second quarter. Bank of New York Mellon Corp now owns 1,233,733 shares of the company’s stock worth $7,810,000 after buying an additional 78,636 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Granite Ridge Resources by 72.6% in the 2nd quarter. AQR Capital Management LLC now owns 936,201 shares of the company’s stock worth $5,926,000 after buying an additional 393,787 shares in the last quarter. 31.56% of the stock is currently owned by institutional investors.

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.