Granite Ridge Resources, Inc. (GRNT) To Go Ex-Dividend on February 28th

Granite Ridge Resources, Inc. (NYSE:GRNT) announced a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.11 per share on Friday, March 14th. This represents a $0.44 annualized dividend and a dividend yield of 6.89%. The ex-dividend date of this dividend is Friday, February 28th.

Granite Ridge Resources has a dividend payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Granite Ridge Resources to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 62.0%.

Granite Ridge Resources Trading Up 0.5 %

NYSE GRNT opened at $6.38 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. Granite Ridge Resources has a twelve month low of $5.47 and a twelve month high of $7.10. The firm has a market capitalization of $834.51 million, a PE ratio of 17.73, a P/E/G ratio of 1.25 and a beta of 0.22. The stock’s 50 day moving average is $6.35 and its 200 day moving average is $6.28.

Insider Activity at Granite Ridge Resources

In related news, Director Matthew Reade Miller acquired 41,000 shares of the stock in a transaction on Friday, December 6th. The stock was acquired at an average price of $6.10 per share, for a total transaction of $250,100.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Luke C. Brandenberg purchased 8,495 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $6.10 per share, with a total value of $51,819.50. Following the purchase, the chief executive officer now directly owns 109,128 shares of the company’s stock, valued at approximately $665,680.80. The trade was a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 54,001 shares of company stock worth $330,711 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

About Granite Ridge Resources

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.