Granite Ridge Resources, Inc. (NYSE:GRNT) is Spider Management Company LLC’s 3rd Largest Position

Spider Management Company LLC increased its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,951,533 shares of the company’s stock after acquiring an additional 872,282 shares during the quarter. Granite Ridge Resources comprises 13.3% of Spider Management Company LLC’s holdings, making the stock its 3rd biggest position. Spider Management Company LLC’s holdings in Granite Ridge Resources were worth $31,987,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Granite Ridge Resources by 50.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock worth $2,522,000 after purchasing an additional 141,634 shares during the last quarter. Barclays PLC grew its stake in Granite Ridge Resources by 306.9% during the 3rd quarter. Barclays PLC now owns 81,092 shares of the company’s stock worth $482,000 after buying an additional 61,162 shares during the last quarter. Geode Capital Management LLC increased its position 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 buying an additional 317,303 shares in the last quarter. Janus Henderson Group PLC raised its stake in Granite Ridge Resources by 40.0% in the third quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock valued at $455,000 after buying an additional 21,852 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Granite Ridge Resources in the third quarter worth about $361,000. Institutional investors own 31.56% of the company’s stock.

Granite Ridge Resources Price Performance

Shares of GRNT stock opened at $6.22 on Wednesday. Granite Ridge Resources, Inc. has a fifty-two week low of $5.29 and a fifty-two week high of $7.10. 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 firm has a market capitalization of $812.55 million, a price-to-earnings ratio of 17.26, a PEG ratio of 1.37 and a beta of 0.22. The stock’s 50-day simple moving average is $6.36 and its 200-day simple moving average is $6.31.

Granite Ridge Resources (NYSE:GRNT) last released its earnings results on Thursday, November 7th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $94.08 million for the quarter, compared to the consensus estimate of $96.35 million. Granite Ridge Resources had a net margin of 12.59% and a return on equity of 11.58%. During the same quarter in the previous year, the firm earned $0.21 EPS. As a group, equities analysts forecast that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

Granite Ridge Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend was Friday, November 29th. Granite Ridge Resources’s payout ratio is 122.23%.

Insider Buying and Selling

In other Granite Ridge Resources news, CEO Luke C. Brandenberg acquired 8,495 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Reade Miller acquired 41,000 shares of Granite Ridge Resources stock in a transaction on Friday, December 6th. The shares were bought at an average price of $6.10 per share, with a total value of $250,100.00. Following the purchase, the director now directly owns 772,491 shares in the company, valued at approximately $4,712,195.10. The trade was a 5.60 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 83,174 shares of company stock worth $520,493 in the last 90 days. Insiders own 1.90% of the company’s stock.

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.