Nisa Investment Advisors LLC Has $29,000 Stake in Granite Ridge Resources, Inc. (NYSE:GRNT)

Nisa Investment Advisors LLC increased its holdings in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 24,400.0% during the fourth quarter, Holdings Channel reports. The fund owned 4,900 shares of the company’s stock after acquiring an additional 4,880 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Granite Ridge Resources were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Howard Financial Services LTD. boosted its position in Granite Ridge Resources by 3.8% during the fourth quarter. Howard Financial Services LTD. now owns 52,621 shares of the company’s stock worth $317,000 after purchasing an additional 1,917 shares during the period. Sfmg LLC boosted its holdings in shares of Granite Ridge Resources by 1.8% during the 3rd quarter. Sfmg LLC now owns 184,454 shares of the company’s stock worth $1,125,000 after buying an additional 3,277 shares during the period. Barclays PLC grew its stake in Granite Ridge Resources by 507.6% in the 2nd quarter. Barclays PLC now owns 5,225 shares of the company’s stock valued at $35,000 after buying an additional 4,365 shares during the last quarter. Independent Wealth Network Inc. bought a new position in Granite Ridge Resources in the 4th quarter valued at about $74,000. Finally, SG Americas Securities LLC acquired a new stake in Granite Ridge Resources during the fourth quarter worth approximately $93,000. Institutional investors own 31.56% of the company’s stock.

Granite Ridge Resources Price Performance

Granite Ridge Resources stock opened at $6.73 on Tuesday. The company has a market capitalization of $877.92 million, a price-to-earnings ratio of 11.03 and a beta of 0.21. The stock’s 50 day moving average is $6.33 and its 200-day moving average is $6.07. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. 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 released its quarterly earnings results on Thursday, March 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $106.80 million for the quarter. Granite Ridge Resources had a net margin of 20.58% and a return on equity of 16.35%. During the same period in the prior year, the business posted $0.38 earnings per share. Equities research analysts expect that Granite Ridge Resources, Inc. will post 0.64 EPS for the current year.

Granite Ridge Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend was Thursday, February 29th. Granite Ridge Resources’s dividend payout ratio (DPR) is presently 72.13%.

Insider Transactions at Granite Ridge Resources

In other Granite Ridge Resources news, CFO Tyler Farquharson bought 5,000 shares of Granite Ridge Resources stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $6.20 per share, with a total value of $31,000.00. Following the acquisition, the chief financial officer now owns 68,037 shares in the company, valued at approximately $421,829.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 9,250 shares of company stock valued at $57,190. Company insiders own 1.40% of the company’s stock.

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.