Granite Ridge Resources, Inc. (NYSE:GRNT) is Hamilton Lane Advisors LLC’s Largest Position

Hamilton Lane Advisors LLC decreased its holdings in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) by 8.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,341,157 shares of the company’s stock after selling 642,992 shares during the period. Granite Ridge Resources makes up approximately 45.9% of Hamilton Lane Advisors LLC’s investment portfolio, making the stock its largest holding. Hamilton Lane Advisors LLC owned 0.06% of Granite Ridge Resources worth $47,424,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GRNT. Dimensional Fund Advisors LP acquired a new stake in Granite Ridge Resources during the 2nd quarter worth about $2,891,000. AQR Capital Management LLC increased its holdings in shares of Granite Ridge Resources by 72.6% in the second quarter. AQR Capital Management LLC now owns 936,201 shares of the company’s stock valued at $5,926,000 after purchasing an additional 393,787 shares during the period. American Century Companies Inc. raised its stake in shares of Granite Ridge Resources by 35.8% in the second quarter. American Century Companies Inc. now owns 1,357,179 shares of the company’s stock worth $8,591,000 after purchasing an additional 357,705 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Granite Ridge Resources by 35.1% during the third quarter. Geode Capital Management LLC now owns 1,221,579 shares of the company’s stock worth $7,258,000 after purchasing an additional 317,303 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Granite Ridge Resources by 50.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock valued at $2,522,000 after buying an additional 141,634 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI reduced their price target on shares of Granite Ridge Resources from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Monday, September 30th.

Granite Ridge Resources Price Performance

NYSE:GRNT opened at $6.90 on Thursday. The firm’s fifty day moving average is $6.39 and its two-hundred day moving average is $6.34. The firm has a market cap of $902.13 million, a price-to-earnings ratio of 19.17, a PEG ratio of 1.61 and a beta of 0.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.56 and a current ratio of 1.56. Granite Ridge Resources, Inc. has a one year low of $5.20 and a one year high of $7.10.

Granite Ridge Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.11 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 6.38%. Granite Ridge Resources’s payout ratio is 122.22%.

Insider Buying and Selling

In other news, CEO Luke C. Brandenberg purchased 8,495 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $6.10 per share, for a total transaction of $51,819.50. Following the completion of the transaction, the chief executive officer now owns 109,128 shares in the company, valued at $665,680.80. This represents a 8.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew Reade Miller acquired 41,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was purchased at an average cost of $6.10 per share, with a total value of $250,100.00. Following the acquisition, the director now directly owns 772,491 shares of the company’s stock, valued at $4,712,195.10. This represents a 5.60 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 83,174 shares of company stock valued at $520,493 over the last ninety days. Company insiders own 1.90% of the company’s stock.

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.