Belvedere Trading LLC Makes New Investment in Granite Ridge Resources, Inc. (NYSE:GRNT)

Belvedere Trading LLC purchased a new position in shares of Granite Ridge Resources, Inc. (NYSE:GRNT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,591 shares of the company’s stock, valued at approximately $75,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRNT. SG Americas Securities LLC raised its position in shares of Granite Ridge Resources by 155.7% during the 3rd quarter. SG Americas Securities LLC now owns 26,335 shares of the company’s stock worth $156,000 after buying an additional 16,037 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of Granite Ridge Resources in the 3rd quarter worth approximately $66,000. CWA Asset Management Group LLC acquired a new position in shares of Granite Ridge Resources in the 3rd quarter worth approximately $711,000. GSA Capital Partners LLP acquired a new position in shares of Granite Ridge Resources in the 3rd quarter worth approximately $361,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Granite Ridge Resources by 50.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 424,593 shares of the company’s stock worth $2,522,000 after purchasing an additional 141,634 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors.

Granite Ridge Resources Stock Performance

Shares of GRNT opened at $6.24 on Tuesday. The firm’s 50 day moving average is $6.33 and its 200-day moving average is $6.27. The stock has a market capitalization of $815.19 million, a P/E ratio of 17.32, a P/E/G ratio of 1.36 and a beta of 0.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.56 and a quick ratio of 1.56. Granite Ridge Resources, Inc. has a 12-month low of $5.47 and a 12-month high of $7.10.

Insider Transactions at Granite Ridge Resources

In other news, CEO Luke C. Brandenberg bought 8,495 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.10 per share, with a total value of $51,819.50. Following the completion of the transaction, the chief executive officer now directly owns 109,128 shares in the company, valued at approximately $665,680.80. The trade was a 8.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Reade Miller bought 41,000 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $6.10 per share, for a total transaction of $250,100.00. Following the completion of the transaction, the director now owns 772,491 shares of the company’s stock, valued at $4,712,195.10. This represents a 5.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 72,174 shares of company stock valued at $448,653 in the last quarter. 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.