Granite Ridge Resources, Inc. (NYSE:GRNT) Short Interest Update

Granite Ridge Resources, Inc. (NYSE:GRNT) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 3,890,000 shares, a growth of 20.8% from the December 31st total of 3,220,000 shares. Based on an average daily volume of 538,700 shares, the short-interest ratio is presently 7.2 days. Approximately 7.3% of the company’s shares are short sold.

Granite Ridge Resources Stock Performance

Shares of GRNT stock traded down $0.13 on Friday, reaching $6.19. The stock had a trading volume of 270,356 shares, compared to its average volume of 414,794. The stock has a market cap of $809.28 million, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.23. Granite Ridge Resources has a 1 year low of $5.29 and a 1 year 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 company has a 50 day simple moving average of $6.38 and a 200 day simple moving average of $6.33.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Granite Ridge Resources had a return on equity of 11.58% and a net margin of 12.59%. The firm had revenue of $94.08 million for the quarter, compared to the consensus estimate of $96.35 million. During the same period last year, the business posted $0.21 EPS. Equities research analysts expect that Granite Ridge Resources will post 0.52 EPS for the current year.

Granite Ridge Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 7.11%. Granite Ridge Resources’s dividend payout ratio is presently 122.23%.

Insider Transactions at Granite Ridge Resources

In related news, CEO Luke C. Brandenberg acquired 5,000 shares of Granite Ridge Resources stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $6.50 per share, with a total value of $32,500.00. Following the transaction, the chief executive officer now directly owns 96,633 shares in the company, valued at approximately $628,114.50. This represents a 5.46 % 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, Director Matthew Reade Miller acquired 41,000 shares of Granite Ridge Resources stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average cost of $6.10 per share, with a total value of $250,100.00. Following the transaction, the director now owns 772,491 shares in the company, valued at $4,712,195.10. This represents a 5.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 83,174 shares of company stock valued at $520,493. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Granite Ridge Resources

A number of institutional investors and hedge funds have recently bought and sold shares of GRNT. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 increased its holdings in shares of Granite Ridge Resources by 306.9% in the third quarter. Barclays PLC now owns 81,092 shares of the company’s stock worth $482,000 after purchasing an additional 61,162 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Granite Ridge Resources by 35.1% in the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock worth $7,258,000 after purchasing an additional 317,303 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Granite Ridge Resources by 40.0% in the third quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock worth $455,000 after purchasing an additional 21,852 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Granite Ridge Resources in the third quarter worth about $361,000. 31.56% of the stock is owned by institutional investors.

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.