J.W. Cole Advisors Inc. Buys Shares of 18,268 Granite Ridge Resources, Inc. (NYSE:GRNT)

J.W. Cole Advisors Inc. bought a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 18,268 shares of the company’s stock, valued at approximately $110,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in Granite Ridge Resources by 24,400.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,900 shares of the company’s stock valued at $29,000 after purchasing an additional 4,880 shares during the period. Barclays PLC raised its position in shares of Granite Ridge Resources by 507.6% during the 2nd quarter. Barclays PLC now owns 5,225 shares of the company’s stock worth $35,000 after buying an additional 4,365 shares in the last quarter. Independent Wealth Network Inc. bought a new stake in shares of Granite Ridge Resources during the 4th quarter worth about $74,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Granite Ridge Resources during the 4th quarter worth about $79,000. Finally, SG Americas Securities LLC bought a new stake in shares of Granite Ridge Resources during the 4th quarter worth about $93,000. 31.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Tyler Farquharson purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 68,037 shares of the company’s stock, valued at $421,829.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 9,250 shares of company stock worth $57,190 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Granite Ridge Resources Stock Up 3.4 %

GRNT stock opened at $6.63 on Friday. Granite Ridge Resources, Inc. has a 52 week low of $5.00 and a 52 week high of $8.14. The company has a market capitalization of $864.88 million, a price-to-earnings ratio of 10.87 and a beta of 0.21. The firm’s 50-day moving average is $6.37 and its two-hundred day moving average is $6.08. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16.

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

Granite Ridge Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.64%. Granite Ridge Resources’s payout ratio is currently 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.