Granite Ridge Resources (GRNT) Projected to Post Earnings on Thursday

Granite Ridge Resources (NYSE:GRNT - Get Free Report) will likely be announcing its Q1 2025 earnings results after the market closes on Thursday, May 8th. Analysts expect Granite Ridge Resources to post earnings of $0.19 per share and revenue of $115.30 million for the quarter.

Granite Ridge Resources Stock Up 3.2 %

Shares of GRNT traded up $0.16 during trading on Friday, reaching $5.09. The company's stock had a trading volume of 444,806 shares, compared to its average volume of 492,493. Granite Ridge Resources has a twelve month low of $4.52 and a twelve month high of $7.10. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The company has a market cap of $667.48 million, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.29 and a beta of 0.20. The company has a fifty day moving average of $5.41 and a two-hundred day moving average of $6.00.

Granite Ridge Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.44 annualized dividend and a yield of 8.64%. Granite Ridge Resources's dividend payout ratio is presently 314.29%.

Analyst Ratings Changes

Several research firms have recently weighed in on GRNT. Capital One Financial downgraded shares of Granite Ridge Resources from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Stephens reiterated an "overweight" rating and issued a $8.00 price target on shares of Granite Ridge Resources in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.70.

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.