Matthew Reade Miller Acquires 18,173 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNT) Director Matthew Reade Miller purchased 18,173 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $6.49 per share, with a total value of $117,942.77. Following the acquisition, the director now directly owns 711,164 shares in the company, valued at $4,615,454.36. This represents a 2.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Matthew Reade Miller also recently made the following trade(s):

• On Friday, September 13th, Matthew Reade Miller purchased 495 shares of Granite Ridge Resources stock. The shares were purchased at an average price of $6.23 per share, with a total value of $3,083.85.
• On Wednesday, September 11th, Matthew Reade Miller purchased 8,500 shares of Granite Ridge Resources stock. The shares were purchased at an average price of $5.97 per share, with a total value of $50,745.00.

Granite Ridge Resources Trading Up 2.6 %

Shares of Granite Ridge Resources stock opened at $6.78 on Friday. The company has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $6.33. Granite Ridge Resources, Inc. has a 12-month low of $5.20 and a 12-month 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. The stock has a market cap of $886.42 million, a price-to-earnings ratio of 18.83, a PEG ratio of 1.75 and a beta of 0.19.

Granite Ridge Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 6.49%. The ex-dividend date of this dividend is Friday, November 29th. Granite Ridge Resources’s payout ratio is 122.23%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Granite Ridge Resources by 20.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,876 shares of the company’s stock valued at $100,000 after buying an additional 2,709 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Granite Ridge Resources by 17.2% in the 2nd quarter. Principal Financial Group Inc. now owns 27,072 shares of the company’s stock valued at $171,000 after buying an additional 3,980 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Granite Ridge Resources by 14.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 57,615 shares of the company’s stock valued at $374,000 after buying an additional 7,304 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Granite Ridge Resources by 52.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company’s stock valued at $147,000 after buying an additional 7,965 shares in the last quarter. Finally, Sfmg LLC boosted its holdings in shares of Granite Ridge Resources by 5.5% in the 2nd quarter. Sfmg LLC now owns 191,420 shares of the company’s stock valued at $1,212,000 after buying an additional 9,960 shares in the last quarter. Institutional investors and hedge funds own 31.56% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI lowered their price target on shares of 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.

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.