Q3 Earnings Forecast for GRNT Issued By Northland Securities

Key Points

• Northland Securities lowered its Q3 2026 EPS forecast for Granite Ridge Resources to $0.16 from $0.19, while maintaining an “Outperform” rating and $9 price target.
• Granite Ridge recently exceeded quarterly expectations, reporting $0.09 EPS versus the $0.08 consensus and revenue of $149.27 million versus $139.44 million expected. However, analyst sentiment remains mixed, with a consensus “Hold” rating and $10 target price.
• The company declared a quarterly dividend of $0.11 per share, equivalent to an annualized $0.44 payout and an approximately 8.5% yield; insiders have also purchased 120,600 shares over the past three months.

Granite Ridge Resources, Inc. (NYSE:GRNT - Free Report) - Northland Securities dropped their Q3 2026 earnings estimates for Granite Ridge Resources in a research note issued to investors on Monday, August 10th. Northland Securities analyst J. Grampp now anticipates that the company will post earnings of $0.16 per share for the quarter, down from their prior estimate of $0.19. Northland Securities has a "Outperform" rating and a $9.00 price objective on the stock. The consensus estimate for Granite Ridge Resources' current full-year earnings is $0.44 per share.

Granite Ridge Resources (NYSE:GRNT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $149.27 million for the quarter, compared to the consensus estimate of $139.44 million. Granite Ridge Resources had a negative net margin of 5.56% and a positive return on equity of 4.60%.

Other equities research analysts have also recently issued research reports about the company. Zacks Research cut Granite Ridge Resources from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. Stephens cut their price target on Granite Ridge Resources from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Weiss Ratings downgraded Granite Ridge Resources from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen raised Granite Ridge Resources from a "sell" rating to a "buy" rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Granite Ridge Resources Trading Up 2.1%

Shares of GRNT opened at $5.18 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50 day simple moving average of $4.68 and a 200-day simple moving average of $5.09. Granite Ridge Resources has a 1-year low of $4.18 and a 1-year high of $6.14. The stock has a market cap of $683.90 million, a price-to-earnings ratio of -24.69 and a beta of 0.20.

Hedge Funds Weigh In On Granite Ridge Resources

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Granite Ridge Resources by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,306,999 shares of the company's stock valued at $19,414,000 after acquiring an additional 448,066 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Granite Ridge Resources during the 1st quarter worth about $6,624,000. First Trust Advisors LP boosted its position in shares of Granite Ridge Resources by 47.1% in the first quarter. First Trust Advisors LP now owns 366,573 shares of the company's stock worth $2,152,000 after acquiring an additional 117,451 shares during the last quarter. Zazove Associates LLC boosted its position in shares of Granite Ridge Resources by 1.4% in the first quarter. Zazove Associates LLC now owns 692,956 shares of the company's stock worth $4,068,000 after acquiring an additional 9,900 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Granite Ridge Resources by 184.7% in the first quarter. Renaissance Technologies LLC now owns 65,200 shares of the company's stock valued at $383,000 after purchasing an additional 42,300 shares during the period. 31.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Ronald Kyle Kettler bought 6,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was purchased at an average cost of $5.08 per share, with a total value of $30,480.00. Following the purchase, the chief financial officer owned 129,276 shares of the company's stock, valued at approximately $656,722.08. The trade was a 4.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Reade Miller purchased 10,600 shares of Granite Ridge Resources stock in a transaction on Tuesday, June 9th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $50,350.00. Following the purchase, the director owned 1,360,813 shares in the company, valued at approximately $6,463,861.75. This trade represents a 0.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 120,600 shares of company stock valued at $651,990. Company insiders own 8.60% of the company's stock.

Granite Ridge Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, August 28th. This represents a $0.44 dividend on an annualized basis and a yield of 8.5%. Granite Ridge Resources's dividend payout ratio (DPR) is -209.52%.

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.

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