Jacobs Levy Equity Management Inc. Has $97,000 Stock Holdings in Granite Ridge Resources, Inc. (NYSE:GRNT)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) by 90.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,943 shares of the company's stock after selling 138,275 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Granite Ridge Resources were worth $97,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP grew its holdings in Granite Ridge Resources by 691.0% during the fourth quarter. Quantbot Technologies LP now owns 9,112 shares of the company's stock valued at $59,000 after purchasing an additional 7,960 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $62,000. KLP Kapitalforvaltning AS acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $68,000. One68 Global Capital LLC acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $71,000. Finally, Belvedere Trading LLC acquired a new position in Granite Ridge Resources during the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 31.56% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on GRNT. Capital One Financial downgraded Granite Ridge Resources from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Stephens restated an "overweight" rating and issued a $8.00 price objective on shares of Granite Ridge Resources in a research note on Friday, March 7th.

Insider Transactions at Granite Ridge Resources

In other news, CEO Luke C. Brandenberg bought 18,252 shares of Granite Ridge Resources stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $5.55 per share, with a total value of $101,298.60. Following the completion of the transaction, the chief executive officer now directly owns 151,167 shares in the company, valued at $838,976.85. This trade represents a 13.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 19,814 shares of company stock worth $110,071. Insiders own 8.50% of the company's stock.

Granite Ridge Resources Trading Up 1.8%

Shares of Granite Ridge Resources stock opened at $5.67 on Monday. The company's fifty day simple moving average is $5.35 and its 200-day simple moving average is $5.95. The company has a market cap of $743.54 million, a price-to-earnings ratio of 15.75, a PEG ratio of 1.29 and a beta of 0.23. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.30. Granite Ridge Resources, Inc. has a 1 year low of $4.52 and a 1 year high of $7.10.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $122.93 million for the quarter, compared to the consensus estimate of $115.30 million. Granite Ridge Resources had a net margin of 12.59% and a return on equity of 11.58%. As a group, sell-side analysts expect that Granite Ridge Resources, Inc. will post 0.52 EPS for the current year.

Granite Ridge Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.44 annualized dividend and a dividend yield of 7.76%. Granite Ridge Resources's payout ratio is 488.89%.

About Granite Ridge Resources

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.

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