Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) - Analysts at Roth Capital raised their FY2025 earnings per share estimates for shares of Granite Ridge Resources in a research note issued on Sunday, February 9th. Roth Capital analyst J. White now anticipates that the company will earn $0.87 per share for the year, up from their previous estimate of $0.67. The consensus estimate for Granite Ridge Resources' current full-year earnings is $0.52 per share.
Granite Ridge Resources Stock Up 1.4 %
Shares of NYSE:GRNT traded up $0.09 during trading on Wednesday, hitting $6.24. The stock had a trading volume of 165,707 shares, compared to its average volume of 370,300. Granite Ridge Resources has a 12 month low of $5.47 and a 12 month high of $7.10. The company has a market capitalization of $815.16 million, a PE ratio of 17.32, a PEG ratio of 1.36 and a beta of 0.22. The firm's fifty day moving average is $6.33 and its 200 day moving average is $6.28. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30.
Insider Transactions at Granite Ridge Resources
In related news, Director Matthew Reade Miller acquired 41,000 shares of Granite Ridge Resources stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $6.10 per share, with a total value of $250,100.00. Following the transaction, the director now directly owns 772,491 shares in the company, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Luke C. Brandenberg acquired 8,495 shares of Granite Ridge Resources stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $6.10 per share, with a total value of $51,819.50. Following the transaction, the chief executive officer now owns 109,128 shares in the company, valued at $665,680.80. This represents a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 73,174 shares of company stock valued at $455,243. Corporate insiders own 1.90% of the company's stock.
Institutional Trading of Granite Ridge Resources
Several institutional investors have recently added to or reduced their stakes in GRNT. Grey Rock Energy Management LLC purchased a new stake in Granite Ridge Resources during the 4th quarter valued at $357,018,000. Spider Management Company LLC boosted its stake in Granite Ridge Resources by 21.4% during the 4th quarter. Spider Management Company LLC now owns 4,951,533 shares of the company's stock valued at $31,987,000 after purchasing an additional 872,282 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Granite Ridge Resources by 45.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,460,485 shares of the company's stock valued at $9,432,000 after purchasing an additional 454,071 shares during the last quarter. Vanguard Group Inc. boosted its stake in Granite Ridge Resources by 11.0% during the 4th quarter. Vanguard Group Inc. now owns 4,234,276 shares of the company's stock valued at $27,353,000 after purchasing an additional 418,059 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Granite Ridge Resources by 35.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company's stock valued at $7,258,000 after purchasing an additional 317,303 shares during the last quarter. 31.56% of the stock is currently owned by hedge funds and other institutional investors.
About Granite Ridge Resources
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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.
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