<div id="readability-page-1"><p>Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director John Mccartney bought 5,000 shares of the stock in a transaction on Monday, August 18th. The stock was purchased at an average price of $5.25 per share, with a total value of $26,250.00. Following the completion of the purchase, the director owned 82,117 shares of the company's stock, valued at $431,114.25. This represents a 6.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.</p><p>John Mccartney also recently made the following trade(s): </p><ul><li>On Friday, August 15th, John Mccartney bought 5,000 shares of Granite Ridge Resources stock. The stock was purchased at an average price of $5.30 per share, with a total value of $26,500.00. </li><li>On Tuesday, August 12th, John Mccartney bought 3,000 shares of Granite Ridge Resources stock. The stock was purchased at an average price of $5.34 per share, with a total value of $16,020.00. </li><li>On Monday, June 2nd, John Mccartney acquired 2,000 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.72 per share, with a total value of $11,440.00. </li><li>On Monday, June 2nd, John Mccartney acquired 2,000 shares of Granite Ridge Resources stock. The shares were bought at an average price of $5.72 per share, with a total value of $11,440.00. </li></ul><h2>Granite Ridge Resources Stock Performance</h2><p>Shares of NYSE:GRNT traded up $0.1250 on Wednesday, hitting $5.3150. 105,754 shares of the company were exchanged, compared to its average volume of 548,372. Granite Ridge Resources, Inc. has a 1-year low of $4.52 and a 1-year high of $7.00. The stock's 50 day moving average price is $5.67 and its 200 day moving average price is $5.62. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $697.59 million, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.34. </p><p>Granite Ridge Resources (NYSE:GRNT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Granite Ridge Resources had a return on equity of 13.09% and a net margin of 7.47%.The company had revenue of $109.22 million for the quarter, compared to analyst estimates of $109.69 million.  Sell-side analysts predict that  Granite Ridge Resources, Inc. will post 0.52 EPS for the current year. </p><h2>Granite Ridge Resources Dividend Announcement</h2><p>The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Friday, August 29th. Granite Ridge Resources's payout ratio is presently 183.33%. </p><h2>Wall Street Analyst Weigh In</h2><p>Separately, Wall Street Zen downgraded shares of Granite Ridge Resources from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research note on Saturday, July 12th. One investment analyst  has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of &#34;Hold&#34; and a consensus target price of $7.50.</p><p><b>Get Our Latest Report on Granite Ridge Resources</b></p><h2>Institutional Trading of Granite Ridge Resources</h2><p>A number of institutional investors and hedge funds have recently modified their holdings of GRNT. EverSource Wealth Advisors LLC boosted its position in  Granite Ridge Resources by 2,398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 5,721 shares of the company's stock worth $36,000 after acquiring an additional 5,492 shares during the last quarter.  GAMMA Investing LLC boosted its position in  Granite Ridge Resources by 892.9% during the first quarter. GAMMA Investing LLC now owns 7,089 shares of the company's stock worth $43,000 after acquiring an additional 6,375 shares during the last quarter.  Parallel Advisors LLC boosted its position in  Granite Ridge Resources by 222.4% during the first quarter. Parallel Advisors LLC now owns 8,722 shares of the company's stock worth $53,000 after acquiring an additional 6,017 shares during the last quarter.  Tower Research Capital LLC TRC boosted its position in  Granite Ridge Resources by 103.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,133 shares of the company's stock worth $58,000 after acquiring an additional 4,635 shares during the last quarter.  Finally, BNP Paribas Financial Markets acquired a new position in  Granite Ridge Resources during the fourth quarter worth about $62,000. Hedge funds and other institutional investors own  31.56% of the company's stock. </p><h2>Granite Ridge Resources Company Profile</h2> (Get Free Report)<p>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. </p><h2>Read More</h2><ul><li>Five stocks we like better than Granite Ridge Resources</li><li>Insider Trades May Not Tell You What You Think</li><li>Who Won and Who Lost in Nuclear Energy’s Q2 Earnings</li><li>How to Calculate Stock Profit </li><li>2 Powerful Forces Now Back Intel's Turnaround</li><li>How to Use the MarketBeat Dividend Calculator</li><li>Archer's Flight Milestones &amp; Defense Wins Excite Wall Street </li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/InsiderTradesChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUdSTlQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/InsiderTradesChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUdSTlQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Granite Ridge Resources Right Now?</h2><p>Before you consider Granite Ridge Resources, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Granite Ridge Resources wasn't on the list.</p><p>While Granite Ridge Resources currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

GRNT

<p>Granite Ridge Resources Director John Mccartney purchased 5,000 shares at $5.25 each, totaling $26,250, increasing his ownership by 6.48%. This follows previous purchases, including 5,000 shares at $5.30 and 3,000 shares at $5.34. The stock recently traded at $5.3150, with a market cap of $697.59 million. The company reported a quarterly EPS of $0.11, missing estimates, and announced a dividend of $0.11 per share, yielding 8.3%. Analysts have a consensus rating of "Hold" with a target price of $7.50.</p>

Insider Buying: Granite Ridge Resources (NYSE:GRNT) Director Acquires 5,000 Shares of Stock