DGS Capital Management LLC Invests $100,000 in Granite Ridge Resources, Inc. (NYSE:GRNT)

DGS Capital Management LLC purchased a new position in Granite Ridge Resources, Inc. (NYSE:GRNT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,555 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern University acquired a new position in shares of Granite Ridge Resources during the third quarter valued at $30,648,000. Hamilton Lane Advisors LLC boosted its stake in Granite Ridge Resources by 122.2% during the 3rd 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 during the period. Adage Capital Partners GP L.L.C. bought a new position in Granite Ridge Resources in the 3rd quarter worth about $9,368,000. BlackRock Inc. grew its position in Granite Ridge Resources by 636.7% in the 2nd quarter. BlackRock Inc. now owns 1,402,820 shares of the company’s stock worth $9,301,000 after purchasing an additional 1,212,392 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Granite Ridge Resources by 1,595.2% in the second quarter. State Street Corp now owns 359,713 shares of the company’s stock valued at $2,385,000 after purchasing an additional 338,493 shares during the period. 31.56% of the stock is currently owned by institutional investors.

Granite Ridge Resources Stock Performance

Shares of NYSE GRNT opened at $6.61 on Thursday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $6.05. The company has a market cap of $862.27 million, a PE ratio of 10.84 and a beta of 0.21. Granite Ridge Resources, Inc. has a 12-month low of $5.00 and a 12-month high of $8.14.

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

Granite Ridge Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.11 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.44 annualized dividend and a dividend yield of 6.66%. Granite Ridge Resources’s dividend payout ratio is presently 72.13%.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, CFO Tyler Farquharson acquired 5,000 shares of Granite Ridge Resources stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $6.20 per share, for a total transaction of $31,000.00. Following the completion of the transaction, the chief financial officer now owns 68,037 shares in the company, valued at approximately $421,829.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders acquired 9,250 shares of company stock worth $57,190. Company insiders own 1.40% 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.