<div id="readability-page-1"><div>                     <p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/granite-ridge-resources-inc-logo-1200x675.jpg/query-dj0yMDIzMDEwNDA3MjUxNA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="1200" height="675" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/logos/granite-ridge-resources-inc-logo-1200x675.jpg/query-dj0yMDIzMDEwNDA3MjUxNA"/>Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report) Director Matthew Reade Miller purchased 18,180 shares of Granite Ridge Resources stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $5.21 per share, for a total transaction of $94,717.80. Following the completion of the purchase, the director owned 1,350,213 shares in the company, valued at $7,034,609.73. This represents a 1.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.</p><p>Matthew Reade Miller also recently made the following trade(s): </p><ul><li>On Friday, March 13th, Matthew Reade Miller purchased 658 shares of Granite Ridge Resources stock. The stock was bought at an average price of $5.15 per share, for a total transaction of $3,388.70. </li><li>On Tuesday, March 10th, Matthew Reade Miller purchased 10,000 shares of Granite Ridge Resources stock. The stock was bought at an average price of $5.10 per share, for a total transaction of $51,000.00. </li></ul><h2>Granite Ridge Resources Trading Down 1.6%</h2><p>NYSE GRNT opened at $5.16 on Thursday. The company has a quick ratio of 1.25, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. Granite Ridge Resources, Inc. has a twelve month low of $4.18 and a twelve month high of $6.72. The company has a market cap of $679.94 million, a price-to-earnings ratio of -20.62, a price-to-earnings-growth ratio of 0.62 and a beta of 0.26. The business's fifty day moving average is $5.49 and its 200 day moving average is $5.14. </p><hr/><hr/><p>Granite Ridge Resources (NYSE:GRNT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). Granite Ridge Resources had a negative net margin of 7.13% and a positive return on equity of 4.99%. The firm had revenue of $128.26 million for the quarter, compared to analyst estimates of $126.68 million.  As a group, sell-side analysts expect that  Granite Ridge Resources, Inc. will post 0.53 EPS for the current fiscal year. </p><h2>Granite Ridge Resources Dividend Announcement</h2><p>The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.44 annualized dividend and a dividend yield of 8.5%. Granite Ridge Resources's dividend payout ratio (DPR) is -176.00%. </p><h2>Institutional Inflows and Outflows</h2><p>Several hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers bought a new position in shares of  Granite Ridge Resources in the 1st quarter worth about $119,000.  First Trust Advisors LP raised its position in shares of  Granite Ridge Resources by 47.1% in the 1st quarter. First Trust Advisors LP now owns 366,573 shares of the company's stock worth $2,152,000 after acquiring an additional 117,451 shares in the last quarter.  Dimensional Fund Advisors LP raised its position in shares of  Granite Ridge Resources by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,306,999 shares of the company's stock worth $19,414,000 after acquiring an additional 448,066 shares in the last quarter.  Bank of New York Mellon Corp raised its position in shares of  Granite Ridge Resources by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 949,688 shares of the company's stock worth $5,575,000 after acquiring an additional 12,089 shares in the last quarter.  Finally, Hsbc Holdings PLC bought a new position in shares of  Granite Ridge Resources in the 1st quarter worth about $391,000. Institutional investors own  31.56% of the company's stock. </p><h2>Analyst Ratings Changes</h2><p>Several equities research analysts recently commented on GRNT shares. Weiss Ratings upgraded shares of Granite Ridge Resources from a &#34;hold (c-)&#34; rating to a &#34;hold (c)&#34; rating in a research report on Friday, May 8th. Zacks Research upgraded shares of Granite Ridge Resources from a &#34;strong sell&#34; rating to a &#34;hold&#34; rating in a research report on Monday, March 9th. Finally, Stephens lowered their target price on Granite Ridge Resources from $12.00 to $11.00 and set an &#34;overweight&#34; rating for the company in a research report on Friday, May 8th. One investment analyst  has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Granite Ridge Resources presently has a consensus rating of &#34;Hold&#34; and a consensus price target of $11.00.</p><p><b>Get Our Latest Stock Analysis on Granite Ridge Resources</b></p><h2>About Granite Ridge Resources</h2><p> (Get Free Report)</p><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. 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GRNT

<p>Granite Ridge Resources Director Matthew Reade Miller acquired 18,180 shares at $5.21 each, totaling $94,717.80, increasing his holdings to 1,350,213 shares valued at approximately $7 million. The company recently reported a quarterly EPS of $0.02, missing estimates, and announced a dividend of $0.11 per share. Institutional investors hold 31.56% of the stock, with recent upgrades from analysts. The stock is currently trading at $5.16, down 1.6%.</p>

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Granite Ridge Resources (NYSE:GRNT) Director Matthew Reade Miller Acquires 18,180 Shares