GRNT Stock Gets Lower EPS Estimate from Northland Securities

Key Points

• Northland Securities lowered Granite Ridge Resources’ FY2026 EPS estimate to $0.48 from $0.49, slightly above the $0.47 consensus estimate; its FY2027 forecast is $1.03 per share.
• Analyst sentiment is mixed but averages a “Moderate Buy” rating, with a consensus price target of $11.00. GRNT recently traded at $5.67, within its 52-week range of $4.18 to $6.14.
• The company reported quarterly EPS of $0.09, beating expectations, and pays a quarterly dividend of $0.11, equivalent to a 7.8% annualized yield. Institutional ownership stands at 31.56%, while insiders have recently purchased shares.

Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) - Investment analysts at Northland Securities dropped their FY2026 earnings estimates for shares of Granite Ridge Resources in a report released on Tuesday, October 20th. Northland Securities analyst J. Grampp now expects that the company will earn $0.48 per share for the year, down from their prior forecast of $0.49. The consensus estimate for Granite Ridge Resources' current full-year earnings is $0.47 per share. Northland Securities also issued estimates for Granite Ridge Resources' FY2027 earnings at $1.03 EPS.

Other equities research analysts have also recently issued research reports about the company. Zacks Research raised Granite Ridge Resources from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Granite Ridge Resources in a research report on Wednesday, August 19th. Freedom Capital upgraded shares of Granite Ridge Resources from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Finally, Wall Street Zen raised shares of Granite Ridge Resources from a "sell" rating to a "buy" rating in a research report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Granite Ridge Resources currently has an average rating of "Moderate Buy" and a consensus price target of $11.00.

Granite Ridge Resources Stock Performance

Shares of GRNT stock opened at $5.67 on Thursday. Granite Ridge Resources has a fifty-two week low of $4.18 and a fifty-two week high of $6.14. The stock's 50-day moving average is $4.94 and its two-hundred day moving average is $5.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $747.21 million, a P/E ratio of -26.98 and a beta of 0.24.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. Granite Ridge Resources had a positive return on equity of 4.67% and a negative net margin of 5.56%. The firm had revenue of $149.27 million during the quarter, compared to analysts' expectations of $139.44 million.

Hedge Funds Weigh In On Granite Ridge Resources

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Granite Ridge Resources in the 2nd quarter worth $21,910,000. Dimensional Fund Advisors LP raised its position in shares of Granite Ridge Resources by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,306,999 shares of the company's stock valued at $19,414,000 after buying an additional 448,066 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Granite Ridge Resources during the first quarter valued at about $6,624,000. Bank of New York Mellon Corp raised its position in shares of Granite Ridge Resources by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 949,688 shares of the company's stock valued at $5,575,000 after buying an additional 12,089 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its position in shares of Granite Ridge Resources by 15.9% during the third quarter. CWA Asset Management Group LLC now owns 1,056,513 shares of the company's stock valued at $4,585,000 after buying an additional 144,933 shares during the last quarter. 31.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Granite Ridge Resources news, Director John McCartney acquired 5,000 shares of Granite Ridge Resources stock in a transaction dated Tuesday, September 1st. The stock was bought at an average cost of $5.04 per share, with a total value of $25,200.00. Following the completion of the transaction, the director owned 154,143 shares of the company's stock, valued at $776,880.72. The trade was a 3.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ronald Kettler acquired 6,000 shares of the stock in a transaction dated Friday, September 4th. The stock was bought at an average price of $5.05 per share, for a total transaction of $30,300.00. Following the purchase, the chief financial officer owned 135,276 shares of the company's stock, valued at $683,143.80. The trade was a 4.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 24,000 shares of company stock valued at $120,800 in the last three months. Company insiders own 8.60% of the company's stock.

Granite Ridge Resources Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Friday, August 28th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.44 dividend on an annualized basis and a yield of 7.8%. Granite Ridge Resources's dividend payout ratio (DPR) is -209.52%.

About Granite Ridge Resources

Granite Ridge Resources, Inc NYSE: GRNT is an independent oil and natural gas exploration and production company. The company primarily owns interests in upstream properties and focuses on developing and producing crude oil, natural gas and natural gas liquids.

Granite Ridge operates primarily through a non-operated business model, partnering with other exploration and production companies that manage drilling and field operations. Its portfolio includes assets across several major U.S.

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