Unison Advisors LLC Invests $644,000 in Granite Ridge Resources, Inc. $GRNT

Unison Advisors LLC bought a new stake in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 137,101 shares of the company’s stock, valued at approximately $644,000. Unison Advisors LLC owned about 0.10% of Granite Ridge Resources as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GRNT. Bank of America Corp DE boosted its stake in Granite Ridge Resources by 5,859.1% during the second quarter. Bank of America Corp DE now owns 4,525,525 shares of the company’s stock worth $28,828,000 after buying an additional 4,449,582 shares during the period. Vanguard Group Inc. raised its stake in shares of Granite Ridge Resources by 6.7% in the third quarter. Vanguard Group Inc. now owns 4,472,643 shares of the company’s stock valued at $24,197,000 after acquiring an additional 282,132 shares during the period. American Century Companies Inc. lifted its holdings in shares of Granite Ridge Resources by 12.9% in the 3rd quarter. American Century Companies Inc. now owns 2,661,098 shares of the company’s stock worth $14,397,000 after acquiring an additional 303,059 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Granite Ridge Resources by 11.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,582,366 shares of the company’s stock worth $13,972,000 after acquiring an additional 265,080 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Granite Ridge Resources by 25.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,827 shares of the company’s stock worth $3,537,000 after purchasing an additional 131,539 shares during the period. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Insider Buying and Selling at Granite Ridge Resources

In other Granite Ridge Resources news, Director Michele J. Everard purchased 5,000 shares of Granite Ridge Resources stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $5.17 per share, with a total value of $25,850.00. Following the completion of the transaction, the director owned 71,143 shares in the company, valued at approximately $367,809.31. This trade represents a 7.56% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Mccartney bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of $5.16 per share, for a total transaction of $25,800.00. Following the completion of the purchase, the director owned 136,143 shares in the company, valued at $702,497.88. The trade was a 3.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 43,158 shares of company stock valued at $222,814. Corporate insiders own 8.50% of the company’s stock.

Granite Ridge Resources Stock Performance

Shares of Granite Ridge Resources stock opened at $5.75 on Monday. The company has a market capitalization of $755.50 million, a PE ratio of 31.93, a P/E/G ratio of 1.06 and a beta of 0.26. The company has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $5.13. Granite Ridge Resources, Inc. has a one year low of $4.18 and a one year high of $6.72. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Granite Ridge Resources (NYSE:GRNT) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $105.49 million during the quarter, compared to the consensus estimate of $120.76 million. Granite Ridge Resources had a net margin of 5.41% and a return on equity of 8.91%. Research analysts expect that Granite Ridge Resources, Inc. will post 0.52 EPS for the current fiscal year.

Granite Ridge Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, February 27th. Granite Ridge Resources’s payout ratio is currently 244.44%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings upgraded shares of Granite Ridge Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Zacks Research upgraded Granite Ridge Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

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.