Spider Management Company LLC Boosts Stock Holdings in Granite Ridge Resources, Inc. (NYSE:GRNT)

Spider Management Company LLC lifted its stake in Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) by 21.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,951,533 shares of the company's stock after buying an additional 872,282 shares during the quarter. Granite Ridge Resources comprises 13.3% of Spider Management Company LLC's portfolio, making the stock its 3rd biggest holding. Spider Management Company LLC owned 3.79% of Granite Ridge Resources worth $31,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Granite Ridge Resources by 50.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company's stock worth $2,522,000 after acquiring an additional 141,634 shares during the period. Barclays PLC lifted its stake in shares of Granite Ridge Resources by 306.9% during the 3rd quarter. Barclays PLC now owns 81,092 shares of the company's stock valued at $482,000 after buying an additional 61,162 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Granite Ridge Resources by 35.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company's stock worth $7,258,000 after buying an additional 317,303 shares during the period. Janus Henderson Group PLC increased its stake in Granite Ridge Resources by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 76,549 shares of the company's stock worth $455,000 after buying an additional 21,852 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Granite Ridge Resources during the third quarter valued at about $361,000. 31.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Matthew Reade Miller acquired 41,000 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were acquired at an average cost of $6.10 per share, with a total value of $250,100.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Luke C. Brandenberg bought 8,495 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $6.10 per share, with a total value of $51,819.50. Following the completion of the acquisition, the chief executive officer now owns 109,128 shares of the company's stock, valued at $665,680.80. This represents a 8.44 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 83,174 shares of company stock worth $520,493. 1.90% of the stock is owned by insiders.

Granite Ridge Resources Price Performance

Shares of Granite Ridge Resources stock traded down $0.08 during trading hours on Friday, hitting $6.05. The company's stock had a trading volume of 274,481 shares, compared to its average volume of 370,300. The company has a market cap of $790.98 million, a PE ratio of 16.81, a PEG ratio of 1.36 and a beta of 0.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. The business has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $6.30. Granite Ridge Resources, Inc. has a 12-month low of $5.43 and a 12-month high of $7.10.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.14 earnings per share (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 analyst estimates of $96.35 million. During the same period last year, the firm posted $0.21 EPS. Analysts expect that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

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.