Northwestern University Acquires New Holdings in Granite Ridge Resources, Inc. (NYSE:GRNT)

Northwestern University acquired a new position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,172 shares of the company’s stock, valued at approximately $117,000. Granite Ridge Resources makes up about 0.2% of Northwestern University’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spider Management Company LLC lifted its stake in shares of Granite Ridge Resources by 21.4% in the 4th quarter. Spider Management Company LLC now owns 4,951,533 shares of the company’s stock valued at $31,987,000 after acquiring an additional 872,282 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Granite Ridge Resources by 8.4% in the fourth quarter. CWA Asset Management Group LLC now owns 129,829 shares of the company’s stock worth $839,000 after purchasing an additional 10,106 shares during the last quarter. Barclays PLC increased its stake 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 buying an additional 61,162 shares during the period. Geode Capital Management LLC raised its holdings 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 during the last quarter. Finally, State Street Corp grew its holdings in Granite Ridge Resources by 1.4% in the 3rd quarter. State Street Corp now owns 887,319 shares of the company’s stock worth $5,271,000 after acquiring an additional 12,607 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Granite Ridge Resources Stock Performance

Granite Ridge Resources stock opened at $6.05 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a market cap of $790.98 million, a P/E ratio of 16.81, a P/E/G ratio of 1.37 and a beta of 0.22. Granite Ridge Resources, Inc. has a 1-year low of $5.43 and a 1-year high of $7.10. The firm has a 50-day moving average of $6.35 and a 200-day moving average of $6.31.

Granite Ridge Resources (NYSE:GRNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $94.08 million during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.21 EPS. Sell-side analysts expect that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other Granite Ridge Resources news, CFO Tyler Farquharson purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $6.55 per share, with a total value of $32,750.00. Following the transaction, the chief financial officer now directly owns 86,723 shares in the company, valued at approximately $568,035.65. The trade was a 6.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew Reade Miller bought 41,000 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were acquired at an average cost of $6.10 per share, with a total value of $250,100.00. Following the purchase, the director now directly owns 772,491 shares of the company’s stock, valued at approximately $4,712,195.10. This represents a 5.60 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 83,174 shares of company stock worth $520,493. Company 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.