American Century Companies Inc. Acquires 282,912 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT)

American Century Companies Inc. increased its stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) by 16.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,056,078 shares of the company's stock after buying an additional 282,912 shares during the period. American Century Companies Inc. owned 1.57% of Granite Ridge Resources worth $13,282,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GRNT. Grey Rock Energy Management LLC bought a new stake in shares of Granite Ridge Resources in the fourth quarter valued at about $357,018,000. Spider Management Company LLC grew its position in shares of Granite Ridge Resources by 21.4% during the 4th quarter. Spider Management Company LLC now owns 4,951,533 shares of the company's stock worth $31,987,000 after purchasing an additional 872,282 shares in the last quarter. Geode Capital Management LLC increased 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 worth $7,258,000 after purchasing an additional 317,303 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Granite Ridge Resources in the fourth quarter valued at approximately $941,000. Finally, Charles Schwab Investment Management Inc. boosted 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 buying an additional 141,634 shares during the period. Institutional investors and hedge funds own 31.56% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens reaffirmed an "overweight" rating and issued a $8.00 price objective 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 report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Granite Ridge Resources currently has an average rating of "Moderate Buy" and a consensus target price of $7.70.

Granite Ridge Resources Price Performance

Granite Ridge Resources stock traded down $0.70 during midday trading on Friday, reaching $4.90. The company's stock had a trading volume of 917,666 shares, compared to its average volume of 472,949. 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 $640.33 million, a PE ratio of 13.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.20. Granite Ridge Resources, Inc. has a 52 week low of $4.88 and a 52 week high of $7.10. The business has a 50-day moving average price of $5.99 and a 200-day moving average price of $6.19.

Granite Ridge Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 8.99%. The ex-dividend date was Friday, February 28th. Granite Ridge Resources's payout ratio is 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.