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

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

A number of other large investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Granite Ridge Resources by 892.9% in the first quarter. GAMMA Investing LLC now owns 7,089 shares of the company's stock valued at $43,000 after purchasing an additional 6,375 shares during the period. Parallel Advisors LLC raised its position in Granite Ridge Resources by 222.4% in the first quarter. Parallel Advisors LLC now owns 8,722 shares of the company's stock valued at $53,000 after purchasing an additional 6,017 shares during the period. Quantbot Technologies LP raised its position in Granite Ridge Resources by 691.0% in 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 period. BNP Paribas Financial Markets purchased a new stake in shares of Granite Ridge Resources during the fourth quarter worth $62,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Granite Ridge Resources during the fourth quarter worth $68,000. 31.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Granite Ridge Resources news, CEO Luke C. Brandenberg acquired 18,252 shares of Granite Ridge Resources stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $5.55 per share, for a total transaction of $101,298.60. Following the completion of the transaction, the chief executive officer owned 151,167 shares in the company, valued at approximately $838,976.85. This represents a 13.73% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Reade Miller acquired 17,000 shares of Granite Ridge Resources stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $5.98 per share, with a total value of $101,660.00. Following the completion of the transaction, the director owned 1,261,877 shares of the company's stock, valued at approximately $7,546,024.46. This trade represents a 1.37% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 46,896 shares of company stock valued at $270,002. 8.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Granite Ridge Resources Stock Up 1.1%

NYSE:GRNT traded up $0.06 during mid-day trading on Tuesday, hitting $5.25. The company had a trading volume of 518,169 shares, compared to its average volume of 514,403. The business has a fifty day simple moving average of $5.88 and a 200-day simple moving average of $5.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Granite Ridge Resources, Inc. has a 1 year low of $4.52 and a 1 year high of $7.00. The firm has a market capitalization of $687.78 million, a price-to-earnings ratio of 58.28 and a beta of 0.36.

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

Granite Ridge Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.11 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.44 dividend on an annualized basis and a yield of 8.39%. Granite Ridge Resources's payout ratio is currently 488.89%.

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.