<div id="readability-page-1"><p>Granite Ridge Resources, Inc. (NYSE:GRNT - Get Free Report)'s stock price gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $5.48, but opened at $5.70. Granite Ridge Resources shares last traded at $5.7220, with a volume of 180,868 shares.</p><p>Specifically,  Director Griffin Perry acquired 100,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average cost of $5.49 per share, with a total value of $549,000.00. Following the completion of the purchase, the director directly owned 1,163,903 shares in the company, valued at approximately $6,389,827.47. This trade represents a 9.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities &amp; Exchange Commission, which is available at the SEC website. Also, Director Matthew Reade Miller acquired 18,180 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $5.21 per share, with a total value of $94,717.80. Following the acquisition, the director directly owned 1,350,213 shares of the company's stock, valued at $7,034,609.73. The trade was a 1.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In related news, CEO Tyler Farquharson acquired 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $5.15 per share, for a total transaction of $51,500.00. Following the completion of the acquisition, the chief executive officer owned 344,743 shares of the company's stock, valued at $1,775,426.45. This trade represents a 2.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. </p><h2>Analyst Ratings Changes</h2><p>A number of equities research analysts recently commented on GRNT shares. Weiss Ratings upgraded Granite Ridge Resources from a &#34;hold (c-)&#34; rating to a &#34;hold (c)&#34; rating in a report on Friday, May 8th. Zacks Research raised shares of Granite Ridge Resources from a &#34;strong sell&#34; rating to a &#34;hold&#34; rating in a report on Monday, March 9th. Finally, Stephens decreased their price target on shares of Granite Ridge Resources from $12.00 to $11.00 and set an &#34;overweight&#34; rating for the company in a report on Friday, May 8th. One analyst  has rated the stock with a Buy rating and two have assigned  a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of &#34;Hold&#34; and an average price target of $11.00.</p><p><b>Check Out Our Latest Report on GRNT</b></p><h2>Granite Ridge Resources Stock Up 4.5%</h2><p>The company has a market cap of $755.10 million, a price-to-earnings ratio of -22.90 and a beta of 0.26. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The firm's fifty day moving average price is $5.50 and its 200-day moving average price is $5.15. </p><p>Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $128.26 million during the quarter, compared to analyst estimates of $126.68 million. Granite Ridge Resources had a negative net margin of 7.13% and a positive return on equity of 4.99%.  Sell-side analysts predict that  Granite Ridge Resources, Inc. will post 0.53 earnings per share 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 Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Friday, May 29th. Granite Ridge Resources's payout ratio is currently -176.00%. </p><h2>Institutional Investors Weigh In On Granite Ridge Resources</h2><p>Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in  Granite Ridge Resources by 180.6% in the 1st quarter. Royal Bank of Canada now owns 14,569 shares of the company's stock valued at $86,000 after acquiring an additional 9,377 shares in the last quarter.  Quantinno Capital Management LP lifted its position in  Granite Ridge Resources by 55.1% in the 1st quarter. Quantinno Capital Management LP now owns 80,361 shares of the company's stock valued at $472,000 after acquiring an additional 28,546 shares in the last quarter.  Renaissance Technologies LLC lifted its position in  Granite Ridge Resources by 184.7% in the 1st quarter. Renaissance Technologies LLC now owns 65,200 shares of the company's stock valued at $383,000 after acquiring an additional 42,300 shares in the last quarter.  Arrowstreet Capital Limited Partnership bought a new stake in  Granite Ridge Resources in the 1st quarter valued at $6,624,000.  Finally, Caxton Associates LLP bought a new stake in  Granite Ridge Resources in the 1st quarter valued at $66,000. 31.56% of the stock is owned by institutional investors. </p><h2>About Granite Ridge Resources</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>See Also</h2><ul><li>Five stocks we like better than Granite Ridge Resources</li><li>Nebius Group Pulls Back 9% After a Downgrade Despite Strong Earnings</li><li>Rewiring AI: NextEra Energy Sparks a Mega Merger</li><li>Flipping the Switch: Is Ford the Next Big Energy Stock?</li><li>Does Nano Nuclear Energy’s New Deal Amp the Outlook?</li></ul><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 reporting and unbiased coverage. 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 (NYSE:GRNT) shares gapped up to $5.70 following insider buying, with Director Griffin Perry acquiring 100,000 shares at $5.49 each. Other directors also increased their holdings. Analysts have mixed ratings, with an average target of $11.00. The company reported a quarterly EPS of $0.02, missing estimates, and announced a $0.11 dividend. Institutional investors have increased their stakes significantly.</p>

Granite Ridge Resources (NYSE:GRNT) Shares Gap Up Following Insider Buying Activity