Barclays PLC Increases Stake in Granite Ridge Resources, Inc. (NYSE:GRNT)

Barclays PLC raised its holdings in shares of Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) by 306.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,092 shares of the company's stock after acquiring an additional 61,162 shares during the period. Barclays PLC owned approximately 0.06% of Granite Ridge Resources worth $482,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. 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 worth $7,258,000 after purchasing an additional 317,303 shares during the last quarter. State Street Corp raised its stake in shares of Granite Ridge Resources by 1.4% during the 3rd quarter. State Street Corp now owns 887,319 shares of the company's stock valued at $5,271,000 after buying an additional 12,607 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Granite Ridge Resources by 40.0% during the 3rd quarter. Janus Henderson Group PLC now owns 76,549 shares of the company's stock valued at $455,000 after buying an additional 21,852 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Granite Ridge Resources in the 3rd quarter valued at about $281,000. 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 worth $2,522,000 after buying an additional 141,634 shares during the last quarter. 31.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Tyler Farquharson acquired 5,000 shares of Granite Ridge Resources stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the transaction, the chief financial officer now owns 86,723 shares of the company's stock, valued at approximately $568,035.65. The trade was a 6.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Luke C. Brandenberg bought 8,495 shares of the company's stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $6.10 per share, for a total transaction of $51,819.50. Following the transaction, the chief executive officer now owns 109,128 shares of the company's stock, valued at approximately $665,680.80. This trade represents a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 83,174 shares of company stock worth $520,493. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Granite Ridge Resources Trading Down 0.5 %

Shares of Granite Ridge Resources stock opened at $6.84 on Friday. The firm has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $6.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. Granite Ridge Resources, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $7.10. The company has a market cap of $893.61 million, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.22.

Granite Ridge Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 6.44%. Granite Ridge Resources's payout ratio is 122.23%.

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.