Matthew Reade Miller Purchases 41,000 Shares of Granite Ridge Resources, Inc. (NYSE:GRNT) Stock

Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director Matthew Reade Miller acquired 41,000 shares of the company's stock in a transaction dated Friday, December 6th. The stock was acquired at an average cost of $6.10 per share, with a total value of $250,100.00. Following the transaction, the director now directly owns 772,491 shares of the company's stock, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, November 20th, Matthew Reade Miller purchased 18,173 shares of Granite Ridge Resources stock. The shares were bought at an average cost of $6.49 per share, for a total transaction of $117,942.77.
• On Friday, September 13th, Matthew Reade Miller acquired 495 shares of Granite Ridge Resources stock. The stock was purchased at an average cost of $6.23 per share, with a total value of $3,083.85.
• On Wednesday, September 11th, Matthew Reade Miller bought 8,500 shares of Granite Ridge Resources stock. The shares were purchased at an average cost of $5.97 per share, for a total transaction of $50,745.00.

Granite Ridge Resources Stock Down 1.1 %

Shares of Granite Ridge Resources stock traded down $0.07 on Friday, hitting $6.17. 560,156 shares of the company's stock traded hands, compared to its average volume of 556,596. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average is $6.24 and its 200 day moving average is $6.33. The stock has a market cap of $806.67 million, a P/E ratio of 17.14, a PEG ratio of 1.65 and a beta of 0.23. Granite Ridge Resources, Inc. has a 52-week low of $5.20 and a 52-week high of $7.10.

Granite Ridge Resources Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.44 annualized dividend and a dividend yield of 7.13%. Granite Ridge Resources's payout ratio is 122.23%.

Analysts Set New Price Targets

Separately, Evercore ISI cut their price objective on shares of Granite Ridge Resources from $8.00 to $7.00 and set an "in-line" rating on the stock in a report on Monday, September 30th.

Hedge Funds Weigh In On Granite Ridge Resources

A number of hedge funds have recently bought and sold shares of GRNT. Dimensional Fund Advisors LP acquired a new stake in shares of Granite Ridge Resources during the second quarter worth $2,891,000. AQR Capital Management LLC raised its stake in Granite Ridge Resources by 72.6% during the second quarter. AQR Capital Management LLC now owns 936,201 shares of the company's stock worth $5,926,000 after acquiring an additional 393,787 shares during the period. American Century Companies Inc. lifted its holdings in Granite Ridge Resources by 35.8% in the second quarter. American Century Companies Inc. now owns 1,357,179 shares of the company's stock worth $8,591,000 after acquiring an additional 357,705 shares during the last quarter. Geode Capital Management LLC boosted its stake in Granite Ridge Resources by 35.1% in the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company's stock valued at $7,258,000 after acquiring an additional 317,303 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Granite Ridge Resources by 50.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company's stock valued at $2,522,000 after purchasing an additional 141,634 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors and hedge funds.

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.