Hamilton Lane Advisors LLC Has $47.42 Million Holdings in Granite Ridge Resources, Inc. (NYSE:GRNT)

Hamilton Lane Advisors LLC cut its stake in Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,341,157 shares of the company's stock after selling 642,992 shares during the period. Granite Ridge Resources makes up about 45.9% of Hamilton Lane Advisors LLC's portfolio, making the stock its biggest holding. Hamilton Lane Advisors LLC owned approximately 5.61% of Granite Ridge Resources worth $47,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Granite Ridge Resources by 66.5% during the 2nd quarter. Rhumbline Advisers now owns 73,052 shares of the company's stock worth $462,000 after acquiring an additional 29,167 shares during the period. American Century Companies Inc. lifted its stake in 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 worth $8,591,000 after purchasing an additional 357,705 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Granite Ridge Resources during the second quarter worth $2,891,000. XTX Topco Ltd acquired a new stake in shares of Granite Ridge Resources in the 2nd quarter valued at $320,000. Finally, Sfmg LLC increased its stake 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 purchasing an additional 9,960 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Evercore ISI dropped their price objective 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.

Insider Activity

In other Granite Ridge Resources news, CEO Luke C. Brandenberg bought 8,495 shares of Granite Ridge Resources stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $6.10 per share, with a total value of $51,819.50. Following the acquisition, the chief executive officer now directly owns 109,128 shares of the company's stock, valued at $665,680.80. The trade was a 8.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tyler Farquharson purchased 5,000 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the purchase, the chief financial officer now directly 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 disclosure for this purchase can be found here. In the last ninety days, insiders bought 83,174 shares of company stock worth $520,493. Insiders own 1.90% of the company's stock.

Granite Ridge Resources Price Performance

GRNT stock traded down $0.01 during trading on Thursday, reaching $6.87. 348,446 shares of the company were exchanged, compared to its average volume of 514,695. Granite Ridge Resources, Inc. has a twelve month low of $5.20 and a twelve 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. The company has a market capitalization of $897.53 million, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.62 and a beta of 0.22. The company has a 50-day moving average of $6.40 and a two-hundred day moving average of $6.34.

Granite Ridge Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued 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 6.41%. Granite Ridge Resources's dividend payout ratio (DPR) is presently 122.23%.

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.