North Star Investment Management Corp. Makes New $879,000 Investment in Granite Ridge Resources, Inc. (NYSE:GRNT)

North Star Investment Management Corp. acquired a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNTFree Report) during the 4th quarter, Holdings Channel reports. The fund acquired 146,000 shares of the company’s stock, valued at approximately $879,000.

Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC purchased a new position in Granite Ridge Resources in the 4th quarter worth approximately $953,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Granite Ridge Resources in the fourth quarter worth about $684,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Granite Ridge Resources in the first quarter worth about $93,000. State Street Corp bought a new position in Granite Ridge Resources during the first quarter valued at approximately $125,000. Finally, Jane Street Group LLC purchased a new position in Granite Ridge Resources during the 1st quarter valued at approximately $80,000. Institutional investors own 7.56% of the company’s stock.

Granite Ridge Resources Stock Down 0.6 %

Shares of GRNT opened at $6.21 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a market capitalization of $810.09 million, a price-to-earnings ratio of 10.18 and a beta of 0.20. Granite Ridge Resources, Inc. has a 1 year low of $4.82 and a 1 year high of $8.14. The business’s 50 day simple moving average is $5.78 and its 200-day simple moving average is $6.03.

Granite Ridge Resources (NYSE:GRNTGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Granite Ridge Resources had a net margin of 20.58% and a return on equity of 16.35%. The business had revenue of $106.80 million during the quarter. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, equities analysts expect that Granite Ridge Resources, Inc. will post 0.61 earnings per share for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend was Thursday, February 29th. Granite Ridge Resources’s payout ratio is 72.13%.

Insider Transactions at Granite Ridge Resources

In other news, CFO Tyler Farquharson acquired 5,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $6.20 per share, with a total value of $31,000.00. Following the completion of the purchase, the chief financial officer now directly owns 68,037 shares in the company, valued at $421,829.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders purchased 9,250 shares of company stock worth $57,190. 1.40% of the stock is currently owned by company insiders.

Granite Ridge Resources Company Profile

(Free Report)

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. The company is based in Dallas, Texas.

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Institutional Ownership by Quarter for Granite Ridge Resources (NYSE:GRNT)

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