Nisa Investment Advisors LLC Has $29,000 Stake in Granite Ridge Resources, Inc. (NYSE:GRNT)

Nisa Investment Advisors LLC raised its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 24,400.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,900 shares of the company’s stock after purchasing an additional 4,880 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Granite Ridge Resources were worth $29,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern University purchased a new position in shares of Granite Ridge Resources during the 3rd quarter valued at $30,648,000. Hamilton Lane Advisors LLC grew its stake in Granite Ridge Resources by 122.2% in the third quarter. Hamilton Lane Advisors LLC now owns 8,410,844 shares of the company’s stock valued at $51,306,000 after purchasing an additional 4,625,595 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Granite Ridge Resources in the 3rd quarter worth about $9,368,000. Maven Securities LTD purchased a new stake in shares of Granite Ridge Resources during the 3rd quarter worth about $1,492,000. Finally, Monashee Investment Management LLC acquired a new stake in shares of Granite Ridge Resources during the 3rd quarter valued at about $1,068,000. Institutional investors and hedge funds own 31.56% of the company’s stock.

Insider Activity

In other news, CFO Tyler Farquharson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $6.20 per share, with a total value of $31,000.00. Following the acquisition, the chief financial officer now 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 can be accessed through this link. Insiders have bought a total of 9,250 shares of company stock valued at $57,190 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Granite Ridge Resources Trading Down 1.6 %

NYSE:GRNT opened at $6.73 on Tuesday. The company has a market capitalization of $877.92 million, a P/E ratio of 11.03 and a beta of 0.21. The stock’s 50 day moving average price is $6.33 and its 200 day moving average price is $6.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 2.44. Granite Ridge Resources, Inc. has a 52 week low of $5.00 and a 52 week high of $8.14.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $106.80 million for the quarter. Granite Ridge Resources had a net margin of 20.58% and a return on equity of 16.35%. During the same quarter in the prior year, the business posted $0.38 EPS. On average, research analysts forecast that Granite Ridge Resources, Inc. will post 0.64 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 annualized dividend and a yield of 6.54%. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 72.13%.

Granite Ridge Resources 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.