Granite Ridge Resources, Inc. (NYSE:GRNT) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 4.3% in the 4th quarter, Holdings Channel reports. The fund owned 442,941 shares of the company’s stock after buying an additional 18,348 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Granite Ridge Resources were worth $2,861,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GRNT. Belvedere Trading LLC acquired a new position in Granite Ridge Resources during the 4th quarter valued at about $75,000. Northwestern University bought a new stake in shares of Granite Ridge Resources during the fourth quarter valued at approximately $117,000. PDT Partners LLC acquired a new position in shares of Granite Ridge Resources during the third quarter worth approximately $281,000. Janus Henderson Group PLC grew its holdings in Granite Ridge Resources by 40.0% in the 3rd quarter. Janus Henderson Group PLC now owns 76,549 shares of the company’s stock worth $455,000 after buying an additional 21,852 shares in the last quarter. Finally, Barclays PLC increased its position in Granite Ridge Resources by 306.9% in the 3rd quarter. Barclays PLC now owns 81,092 shares of the company’s stock valued at $482,000 after acquiring an additional 61,162 shares during the period. Institutional investors and hedge funds own 31.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and set a $8.00 price target on shares of Granite Ridge Resources in a research report on Friday, March 7th. Capital One Financial cut shares of Granite Ridge Resources from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.70.

Granite Ridge Resources Stock Up 0.2 %

GRNT opened at $6.22 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $813.00 million, a PE ratio of 17.26, a P/E/G ratio of 1.29 and a beta of 0.23. The stock’s fifty day moving average is $6.09 and its 200-day moving average is $6.20. Granite Ridge Resources, Inc. has a one year low of $5.27 and a one year high of $7.10.

Granite Ridge Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date was Friday, February 28th. Granite Ridge Resources’s payout ratio is 314.29%.

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.