Granite Ridge Resources, Inc. (NYSE:GRNT) Short Interest Up 20.8% in January

Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,890,000 shares, a growth of 20.8% from the December 31st total of 3,220,000 shares. Approximately 7.3% of the shares of the stock are short sold. Based on an average trading volume of 538,700 shares, the short-interest ratio is presently 7.2 days.

Granite Ridge Resources Stock Performance

Granite Ridge Resources stock traded up $0.01 during midday trading on Wednesday, reaching $6.21. 100,481 shares of the company traded hands, compared to its average volume of 409,562. The firm has a market capitalization of $811.24 million, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. The business has a 50 day moving average of $6.36 and a two-hundred day moving average of $6.31. Granite Ridge Resources has a 12 month low of $5.33 and a 12 month high of $7.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. Granite Ridge Resources had a net margin of 12.59% and a return on equity of 11.58%. The business had revenue of $94.08 million during the quarter, compared to analysts' expectations of $96.35 million. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, research analysts predict that Granite Ridge Resources will post 0.52 earnings per share for the current year.

Granite Ridge Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.11 per share. The ex-dividend date was Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 7.09%. Granite Ridge Resources's payout ratio is 122.23%.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, Director Matthew Reade Miller acquired 41,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $6.10 per share, with a total value of $250,100.00. Following the completion of the purchase, the director now directly owns 772,491 shares of the company's stock, valued at approximately $4,712,195.10. The trade was a 5.60 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tyler Farquharson acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the purchase, the chief financial officer now directly owns 86,723 shares of the company's stock, valued at $568,035.65. This represents a 6.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 83,174 shares of company stock valued at $520,493. Insiders own 1.90% of the company's stock.

Institutional Trading of Granite Ridge Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Granite Ridge Resources in the 2nd quarter worth $2,891,000. AQR Capital Management LLC boosted its stake in shares of Granite Ridge Resources by 72.6% during the 2nd quarter. AQR Capital Management LLC now owns 936,201 shares of the company's stock worth $5,926,000 after purchasing an additional 393,787 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Granite Ridge Resources by 52.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,206 shares of the company's stock worth $147,000 after purchasing an additional 7,965 shares during the period. SG Americas Securities LLC boosted its position in Granite Ridge Resources by 155.7% in the 3rd quarter. SG Americas Securities LLC now owns 26,335 shares of the company's stock valued at $156,000 after buying an additional 16,037 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in Granite Ridge Resources in the 3rd quarter valued at about $66,000. 31.56% of the stock is currently owned by institutional investors.

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.