Segall Bryant & Hamill LLC Acquires Shares of 367,613 Granite Ridge Resources, Inc. (NYSE:GRNT)

Segall Bryant & Hamill LLC purchased a new position in Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 367,613 shares of the company's stock, valued at approximately $2,235,000. Segall Bryant & Hamill LLC owned 0.28% of Granite Ridge Resources at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its holdings in Granite Ridge Resources by 2.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 120,044 shares of the company's stock valued at $730,000 after acquiring an additional 2,322 shares during the period. Victory Capital Management Inc. raised its holdings in Granite Ridge Resources by 18.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,889 shares of the company's stock valued at $116,000 after acquiring an additional 2,735 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Granite Ridge Resources by 16.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,599 shares of the company's stock valued at $127,000 after acquiring an additional 2,759 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Granite Ridge Resources by 5.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,135 shares of the company's stock worth $388,000 after purchasing an additional 3,272 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Granite Ridge Resources by 222.4% in the first quarter. Parallel Advisors LLC now owns 8,722 shares of the company's stock worth $53,000 after purchasing an additional 6,017 shares during the period. Institutional investors own 31.56% of the company's stock.

Granite Ridge Resources Stock Up 2.1%

Shares of GRNT traded up $0.11 on Friday, hitting $5.39. 646,152 shares of the stock traded hands, compared to its average volume of 513,110. The company has a market capitalization of $706.82 million, a PE ratio of 59.90 and a beta of 0.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50 day simple moving average of $5.88 and a 200 day simple moving average of $5.84. Granite Ridge Resources, Inc. has a one year low of $4.52 and a one year high of $7.00.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. Granite Ridge Resources had a net margin of 2.98% and a return on equity of 13.46%. The business had revenue of $122.93 million for the quarter, compared to analysts' expectations of $115.30 million. As a group, equities analysts forecast that Granite Ridge Resources, Inc. will post 0.52 earnings per share for the current fiscal year.

Granite Ridge Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 8.16%. The ex-dividend date of this dividend was Friday, May 30th. Granite Ridge Resources's dividend payout ratio (DPR) is presently 488.89%.

Insider Activity

In other news, Director Matthew Reade Miller acquired 17,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was acquired at an average price of $5.98 per share, with a total value of $101,660.00. Following the completion of the purchase, the director directly owned 1,261,877 shares in the company, valued at approximately $7,546,024.46. This trade represents a 1.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Luke C. Brandenberg acquired 18,252 shares of the firm's stock in a transaction 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 purchase, the chief executive officer owned 151,167 shares of the company's stock, valued at $838,976.85. The trade was a 13.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 46,896 shares of company stock valued at $270,002 in the last three months. Insiders own 8.50% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Granite Ridge Resources from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.

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.