Savant Capital LLC Makes New $126,000 Investment in Granite Ridge Resources, Inc. $GRNT

Savant Capital LLC purchased a new stake in Granite Ridge Resources, Inc. (NYSE:GRNT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,742 shares of the company’s stock, valued at approximately $126,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GRNT. Ieq Capital LLC acquired a new position in shares of Granite Ridge Resources during the first quarter worth about $62,000. Quantbot Technologies LP lifted its stake in Granite Ridge Resources by 81.2% in the first quarter. Quantbot Technologies LP now owns 16,512 shares of the company’s stock worth $100,000 after acquiring an additional 7,400 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Granite Ridge Resources during the 1st quarter worth approximately $113,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Granite Ridge Resources in the 2nd quarter valued at $127,000. Finally, Jane Street Group LLC purchased a new stake in shares of Granite Ridge Resources during the 1st quarter worth $131,000. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Granite Ridge Resources Trading Down 0.1%

Shares of Granite Ridge Resources stock opened at $4.98 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $5.34 and a 200-day simple moving average of $5.51. The stock has a market cap of $652.97 million, a price-to-earnings ratio of 17.77, a PEG ratio of 1.93 and a beta of 0.34. Granite Ridge Resources, Inc. has a 12-month low of $4.52 and a 12-month high of $7.00.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings data on Monday, September 11th. The company reported $0.61 earnings per share (EPS) for the quarter. Granite Ridge Resources had a net margin of 8.38% and a return on equity of 12.12%. The company had revenue of $150.27 million during the quarter. On average, equities analysts forecast that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.

Granite Ridge Resources Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.44 annualized dividend and a yield of 8.8%. Granite Ridge Resources’s payout ratio is 157.14%.

Analyst Ratings Changes

GRNT has been the topic of several recent analyst reports. Zacks Research lowered Granite Ridge Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Granite Ridge Resources in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Granite Ridge Resources presently has an average rating of “Hold” and a consensus target price of $8.00.

About Granite Ridge Resources

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.